On this chart you can see a simmilar channel that LTCUSD is currently in, or is currently fighting against. I believe BTC is set to test $6000.
LTCBTC coming to upper part of channel would be a 0.382 retrace, and that would be around LTCBTC 0.015, which is $90 (6000*0.015=90),
0.236 retrace would be around LTCBTC 0.014 and that would be the $85 that I was talking about in my previous idea.
That is in case BTC goes to $6000, BUT, if BTC consolidates here ($5700), then a 0.382 retrace would give us the $85 I was talking about before. Either way, I'm looking at that $85 as an incoming target price.
I am very confident LTC will move higher from here, will it broke 85$ and go for 100$ I am not really sure, but this small pump is the best I can predict right now.
Remember to make a stop loss in case we break through this lower part of channel!
LTCBTC coming to upper part of channel would be a 0.382 retrace, and that would be around LTCBTC 0.015, which is $90 (6000*0.015=90),
0.236 retrace would be around LTCBTC 0.014 and that would be the $85 that I was talking about in my previous idea.
That is in case BTC goes to $6000, BUT, if BTC consolidates here ($5700), then a 0.382 retrace would give us the $85 I was talking about before. Either way, I'm looking at that $85 as an incoming target price.
I am very confident LTC will move higher from here, will it broke 85$ and go for 100$ I am not really sure, but this small pump is the best I can predict right now.
Remember to make a stop loss in case we break through this lower part of channel!
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Stop loss at Daily 500MA! We might touch it and go back up, as we do with MA50, but going below it isn't what we are hoping to get.Going below MA500 means we can soon get a death cross, which gets us to new lows. That is why stop loss is important!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.