Hello my fellow friends!! I hope everyone is having an awesome time. 😃
For this segment I would like to discuss the successful break out of LTC or LITECOIN against USD.
We are looking at the daily chart of LTC/USD.
As we can see, it recently broke out from both a downard trendline resistance and a horizontal resistance area also.
This is a really good indication for LTC.
Slowly but surely, the long-term trend for this one is already changing for the bulls.
We can also see that both the momentum indicators RSI and MACD are both pointing up and looking strong.
This can indicate a potential continuation of this short term rally upto the strong resistance of 80 usd.
The structure and range for this one is also really looking good.
I am eyeing the range of LTC is from 50 usd area to 80 usd area so its good to look at these levels.
Of course if we would like to participate for a long position, we should have an entry as lower as possible within this range.
The potential profit for this can be upto a massive 70% is all goes according to plan.
That can be a really good risk to reward on our portfolio.
If you want some chart requests or want me to analyze some crypto or asset, just comment below and I will post it next.
Thanks!😃
Till next time guys and gals,
Cheers!! 😃
Disclaimer: This is not a financial advice and for educational purpose only.
#Investing #Trading #LTC #Litecoin