There's a channel forming that should provide traders with good insights on when and where to open a position on LTC We are currently in unknown. It could break up or down. Thankfully this is a good opportunity to wait - breaking up is above $165. Not too far from where we are, so patience means you won't be missing out on much. And if it breaks down, below $147.50, you don't lose too much profit on shorting.
For positions open from around $130, now is a good time to take some profits.
A break down could take us back to the $120 levels. Although I'm expecting it to break up, I don't control the market!
A break up could take us to the long-term trend line of about $210.
A break up would be very positive news, as the bear channel only got more bearish. That is what is being tested right now. This would be the first breakout from this channel and would be very positive news.
For positions open from around $130, now is a good time to take some profits.
A break down could take us back to the $120 levels. Although I'm expecting it to break up, I don't control the market!
A break up could take us to the long-term trend line of about $210.
A break up would be very positive news, as the bear channel only got more bearish. That is what is being tested right now. This would be the first breakout from this channel and would be very positive news.