Few days ago I marked this day as a deciding point. LTC has decided to break upwards and confirm my prediction to retest $85!
Yes, I said we retest $85 as new resistance, but resistance switching to support is even sweeter.
We are out of the previous channel and back on track to test local high, the 100$.
BUT! Before we go up, we need to really test the $85 as the new support. If 85$ holds in the next few days, we are looking very bullish, and may veery quickly test the next big resistance: $100
In case where $85 gets broken, I am still very bullish and I believe we will bounce back up from $82 because of our past channel we were in.
In worst case of course, my stop loss is currently just below $80.
Yes, I said we retest $85 as new resistance, but resistance switching to support is even sweeter.
We are out of the previous channel and back on track to test local high, the 100$.
BUT! Before we go up, we need to really test the $85 as the new support. If 85$ holds in the next few days, we are looking very bullish, and may veery quickly test the next big resistance: $100
In case where $85 gets broken, I am still very bullish and I believe we will bounce back up from $82 because of our past channel we were in.
In worst case of course, my stop loss is currently just below $80.
Trade closed: target reached
$100 reached! I short here for now
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Related publications
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.