LTC/USD Showing Potential!
As we look at the 4hr timeframe we can see the short term downward channel which as held as a strong S/R.
LTC/USD is now strongly trading above the 9 day EMA. The next resistance to overcome is the 55 day EMA. We're looking for a close above EMA 100 & 200 which will bring us at around $45 for confirmation of next wave up.
My assumption is that it will try to attack the top of the channel now that it's once again trading inside, since the massive BTC sell off.
Top of channel will be around $47. If it breaks this on the first move up since re-entering channel (unlikely), I'll be a happy camper.
This is not financial advise. Safe trading and remember to use stop losses and alerts to raise confidence in your trade.
Simplicity Wins
Bless Up
LTC/USD is now strongly trading above the 9 day EMA. The next resistance to overcome is the 55 day EMA. We're looking for a close above EMA 100 & 200 which will bring us at around $45 for confirmation of next wave up.
My assumption is that it will try to attack the top of the channel now that it's once again trading inside, since the massive BTC sell off.
Top of channel will be around $47. If it breaks this on the first move up since re-entering channel (unlikely), I'll be a happy camper.
This is not financial advise. Safe trading and remember to use stop losses and alerts to raise confidence in your trade.
Simplicity Wins
Bless Up
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