Hi everyone,
Looking at the set up we have, it seems we are hitting a resistance not only from LTCBTC but also from BTCUSD/LTCUSD at the 4H TF.
It has been a good accumulation phase but you can now see exhaustion with the last candle. Additionally, RSI and MACD need to cool off a bit.
At the 1H TF, and from 17/08 until now we can see a cup forming...handle would come perfectly into play.
It may be time for a possible retracement for LTCBTC to 0.009/0.00895 maximum.
Any feedback is appreciated.
Looking at the set up we have, it seems we are hitting a resistance not only from LTCBTC but also from BTCUSD/LTCUSD at the 4H TF.
It has been a good accumulation phase but you can now see exhaustion with the last candle. Additionally, RSI and MACD need to cool off a bit.
At the 1H TF, and from 17/08 until now we can see a cup forming...handle would come perfectly into play.
It may be time for a possible retracement for LTCBTC to 0.009/0.00895 maximum.
Any feedback is appreciated.
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Target is reached on my S/R line and on the Fibs with an ABC wave retracement.
My next target is 0.00956 with a tight SL at 0.00895
My next target is 0.00956 with a tight SL at 0.00895