$LTC/USDT 12h (Binance Futures) Descending channel breakout
Updated
Litecoin seems to finally be done with the down-trend after regaining 50MA support.
It already retested it once but could dip a last time before heading towards 200MA!
Current Price= 136.33
Buy Entry = 132.73 - 123.77
Take Profit= 155.64 | 176.38 | 199.91
Stop Loss= 106.26
Risk/Reward= 1:1.25 | 1:2.19 | 1:3.26
Expected Profit= +21.36% | +37.53% | +55.88%
Possible Loss= -17.15%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 1 month
It already retested it once but could dip a last time before heading towards 200MA!
Current Price= 136.33
Buy Entry = 132.73 - 123.77
Take Profit= 155.64 | 176.38 | 199.91
Stop Loss= 106.26
Risk/Reward= 1:1.25 | 1:2.19 | 1:3.26
Expected Profit= +21.36% | +37.53% | +55.88%
Possible Loss= -17.15%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 1 month
Comment
TP1 would have been reached with up to +26.20% (1x)Unfortunately, Litecoin never filled our entry, demand zone is still likely to be retested later.
Comment
TP2 would have been reached with up to +41.74% (1x)Litecoin kept going up as well, if you are still in, taking some partial profit here would make sense!
So far 50MA seems to be holding the up-trend so last target is still in play.
Comment
TP3 would have been reached with up to +55.88% (1x)Litecoin went up to +71.68% since called but never came back to entry zone, gain-time just expired.
Still looking good for mid/long-term, we'll look for another entry soon!
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