LTCUSD - LOOKING FOR A BREAKOUT - 12TH MARCH 2021

12 mars 2021

LTCUSD

Looking to breakout the ascending triangle on Daily TF. Expect to retest USD 229 in immediate short term.

Reason to be bullish:
1) Trading above the resistance level on daily TF
2) Breaking out from the ascending triangle on daily TF
3) MACD green on daily TF
4) RSI above 55 on daily TF
5) Trading inside the ascending channel
6) Trading above 20MA, 50MA, 100MA, and 200MA on daily TF.
7) Closing above USD 205.4 on 4hrs TF
8) Trading above weekly VWAP

For safer trade, can wait until daily closing tomorrow for confirmation.

Possible trading condition for confirmation, USD 205.5 flip to support on daily TF

Entry: USD 205.5 - USD 206
Target : USD 229, USD 239, USD 244

Breaking USD 229 (resistance trendline) can bring Litecoin to form a higher high to USD 285-USD290

13 mars 2021

Note

Heading towards first target USD 229, current price USD 225

14 mars 2021

Note

Exactly hit my target of USD 229, close 50% position over there, after hitting resistance, price retrace to 0.618 fib area around USD 211 area in immediate short term.