Litecoin has been breaking out of its descending channel just like BTC. It formed a new descending channel above the descending pitchfork and has now spiked up. It behaviour is much more bullish than BTC NEO or ETH.
I am looking for a long trade upon retracement to the descending line which may occur within the next 24 hours
Stop below the previous low. LTCUSD around 226 in around 12 to 15 hours. Take profit around 280. ( where it could hit the upper part of the pitchfork. You could then reenter at a lower price.
This will be updated later
See my LTC post from Feb 14
I am looking for a long trade upon retracement to the descending line which may occur within the next 24 hours
Stop below the previous low. LTCUSD around 226 in around 12 to 15 hours. Take profit around 280. ( where it could hit the upper part of the pitchfork. You could then reenter at a lower price.
This will be updated later
See my LTC post from Feb 14
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perhaps the 30 minute pattern is a fractal of the 120 minute pattern. Were it to repeat we would get two bounces followed by another push up
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New pattern broke support. It looks like we are heading down. Sitting in cash now. I am waiting to see if this is the start of a bigger retracement
