$LTC/BTC 1W (Binance Spot) Big falling wedge breakout and retest
Updated
Litecoin on All Time Low (ATL) support and finally showing some reversal signs for mid/long-term.
That old PoW coin (since 2011) is also available on BSC, more information on litecoin.org
Current Price= 0.003115
Buy Entry= 0.003102 - 0.002600
Take Profit= 0.004593 | 0.006362 | 0.010745
Stop Loss= 0.002153
Risk/Reward= 1:2.5 | 1:5.03 | 1:11.31
Expected Profit= +61.10% | +101.68% | +169.61%
Possible Loss= -24.48%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 1 year
That old PoW coin (since 2011) is also available on BSC, more information on litecoin.org
Current Price= 0.003115
Buy Entry= 0.003102 - 0.002600
Take Profit= 0.004593 | 0.006362 | 0.010745
Stop Loss= 0.002153
Risk/Reward= 1:2.5 | 1:5.03 | 1:11.31
Expected Profit= +61.10% | +101.68% | +169.61%
Possible Loss= -24.48%
Fib. Retracement= 0.382 | 0.618 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 1 year
Trade active
First entry filledLitecoin bounced very nicely today, bringing up to +34.87% and this is only the beginning.
Although, since it's facing 50MA resistance, could be wise to take some partial profit here!
Note
TP1 missed by 168 sats with up to +45.27%Litecoin retraced down to good old demand zone again, I hope you took the advice to partially TP up there.
Now seems to be a good time to buy back or build a bigger position, this was only a preview of what it's capable of!
Trade closed: stop reached
SL was hit with -24.48% and -1RLitecoin lost demand zone and stop hunted us while printing a new All Time Low.
That's sad but it's far from dead, let's keep an eye on that new formed falling wedge!
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