Litecoin LTC 40% profit target!
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Hello dear traders,
Here is a my new analysis of Litcoin which currently has a Risk Reward LONG ratio of a whopping 1 to 4! This formation has a 40% upside potential!
You see here the hourly chart of Litecoin with a perfect inverted head shoulder pattern and a target of 270 USD.
The price is likely to follow the ascending trend channel until the target is reached.
So we have a bullish and already validated inverted head and shoulders pattern, we also see a bullish bullflag and we have a rising trendchannel.
The volume is still low but volume is a tricky thing in the Crypto currency markets because there are so many exchanges and we also have hidden orders between bigger hedgefunds and so on.
Stops:
1. Below the right shoulder of the inverted head shoulder formation 177 USD.
2. Later, you can also use a trailing stop with the lower boundery of the ascending trend channel as a trigger.
Litecoin still has 100% bullish potential up to the old top! With Bitcoin, Ethereum and many others only 50%. So this could be a profit taker! I expect Litecoin to outperform many other high quality altcoins.
Resistance, 210, 218, 228, 241, 251, 270 (target).
You can always partially take profits at the resistance levels for reduced risk but that is a personal choice.
The price of Litecoin canof course also first decline to the lower boundery of the upward trendchannel or it goes up right away.
As always please write your comments so we can look at this situation from all sides!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like👍. That motivates me a lot to continue💚!
Here is a my new analysis of Litcoin which currently has a Risk Reward LONG ratio of a whopping 1 to 4! This formation has a 40% upside potential!
You see here the hourly chart of Litecoin with a perfect inverted head shoulder pattern and a target of 270 USD.
The price is likely to follow the ascending trend channel until the target is reached.
So we have a bullish and already validated inverted head and shoulders pattern, we also see a bullish bullflag and we have a rising trendchannel.
The volume is still low but volume is a tricky thing in the Crypto currency markets because there are so many exchanges and we also have hidden orders between bigger hedgefunds and so on.
Stops:
1. Below the right shoulder of the inverted head shoulder formation 177 USD.
2. Later, you can also use a trailing stop with the lower boundery of the ascending trend channel as a trigger.
Litecoin still has 100% bullish potential up to the old top! With Bitcoin, Ethereum and many others only 50%. So this could be a profit taker! I expect Litecoin to outperform many other high quality altcoins.
Resistance, 210, 218, 228, 241, 251, 270 (target).
You can always partially take profits at the resistance levels for reduced risk but that is a personal choice.
The price of Litecoin canof course also first decline to the lower boundery of the upward trendchannel or it goes up right away.
As always please write your comments so we can look at this situation from all sides!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!
--->> Traders please follow me for updates and give me support with a like👍. That motivates me a lot to continue💚!
Giao dịch đang hoạt động
The first target is already hit guy's!Bình luận
Dear traders, I updated a chart which you need to look at. Not to scare you but just to show you some signs I see in Bitcoin. Because Bitcoin is the leader, the Alts follow if it would decline. Also do not forget that we have had already a massive upleg and possible that also needs a counter reaction. I have no bias, no long, no short. I just trade what the charts show, nothing more and nothing less. I like to keep it clear and simple ;-)
Bình luận
For traders who are long after the Bitcoin patterns, just monitor this closely. Maybe it is a beartrap. Everything is possible in the manipulated crypto markets!Bình luận
The trendline has been broken to the downside.Possible target now 124 USD
Bình luận
Traders, here an update for Litecoin,We are on our way with Litecoin to 123 - 118 USD.
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