LTCBTC trade ideas
Litecoin - LTC - Close to Trend Line Entry PointMy entry point for LTC (Litecoin) is anytime it hits the trend line. That point is close with the trend line currently sitting at almost $270 and the price of LTC hovering around $300. If Bitcoin, BTC, pulls back to $42k soon, we would see LTC have a similar pullback and reach that buy target point on the trend line.
I'm looking at a price target exit point for Litecoin around $540. I will also be looking at the RSI on the daily chart, as it typically starts topping out once the RSI reaches 75 on the daily.
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LTC LongLTC has recently broken a significant weekly level,
formed a HH and is now retracing.
Weekly level lines up beautifully with 4H demand zone. 50 fib or 38 depending on where you start the recent push.
Feel a bit funny about it, not sure if it's how far from the trend it is,
due for a retracement, morning star on the dailys, mucking around
with fibs to see what I want to see possibly.
Just gonna take it for 0.5R, R:R is fat. Can afford to be wrong a few times on these.
LTC LongLTC in a solid uptrend.
Daily just formed a HH now retracing
4H two demand zones line up with fibs of both weekly and 4H push,
as well as with the trendline coming up to meet them.
Expect to see strong buying pressure through here and a possible bounce and run to
the next weekly zone.
Already had a similar idea here
But just updating based on new structure and zones.