The "Prolonged Divergence" clearly suggests how LTC sellers have been exhausted over time and not much of LTC hodlers are left to actually sell. A big panic sell off might occur only if we decisively break past the "end game" support line as demarcated in the above chart. However, I potentially see that this event is not likely to occur. If I were you, I'd start accumulating a few LTCs on these levels. There cannot be a 100% probability towards a trade as markets consists of various sentimental traders and HTF bots seeking to find the majority of liquidity across various price levels. However we can just have a little inclination of probability factors towards our end through TA. I would say that the probability of this setup lies 60% towards "BULLS" end. . Be a responsible trader, have stop losses and stick to them, NO MATTER WHAT.
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Expecting target 1 to be hit soon.
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Buy levels (incase of a dip) 0.0074 - 0.00805 . Stops Loss : a daily close below 0.00689
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Target 1 Hit (Bitstamp)
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Just missed the buy zone. Trade is still on going.
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Viola! Broke the 0.0099 resistance with conviction. It should be working as a support henceforth for the Mid term. Trade ongoing.
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Up 42% since the trade was opened.
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Well well. Pretty unexpected run straight upto T2 but just missing it by a few thousand sats.
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Maybe it's the having effect. No one's talking about it.
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Yep, T2 Hit.
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Closing the trade here!
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Caught the move nicely
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Okay, seems like cryptocurrencies do not want to stop for a while.
So it did happen.
Successfully called the Litecoin Bottom. Up over 100%
Hell yeah!
varunsm0812
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Testing Target 1 areas again. It really needs to be broken with conviction or we'll end up having a double top situation.
Stop losses moved up to 0.0074
Successfully called the Litecoin Bottom. Up over 100%
Hell yeah!