LTCUSD trying to close above the EMA12

A close above $155 (13/02/18) is a bullish sign as this would mean that we have closed above the EMA12 for two days in a row. This happened a few days ago however the price was pushed back down but not below $142, forming a double bottom. I believe that this signalled the reversal of the trend. This is further validated if BTC closes the day above 8700 (EMA12 for BTC)

If the price closes above $155

TARGET 1 - $221 (38.2 retracement of bearish trend
Stoploss - $139 (break of the double bottom)

If the price closes below $155, remain neutral.

Trade active

Closed above EMA12, bitcoin didn't. trade opened but remain cautious. Volume is low but I see us retesting $175 at least.

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Watching for a volume increase. If not, dump at $175

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Seems to be heating up. Near term hurdles are 167 (EMA26) and 175 (resistance). I expect consolidation around these points

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Volume is increasing a fair bit.. We will see what happens at $175 if we get there. LTCBTC appears to have broken out as well..

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Next step is to close above the EMA26 for more than 3 days. This will confirm a reversal of the downtrend and new ATHs to come

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Next areas of interest are $195 and $215

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Target is $205 before a pullback. After this the price may head down to retest the EMA26 at 167, if it were to close below this on the daily the trade is invalid and I would take profits ASAP

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Breakout positive volume momentum is starting to wane. We may need to retest the EMA26 at some point ($167)

Trade closed: target reached

Well that was quick

douglasaa

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douglasaa