TRADE ALERT - LONG LITECOIN (LTC)
#litecoin #ltc #altcoins #tradealert #tradesetups
Another entry here for me in Litecoin. It actually missed my trigger buy at $77.50. But I didn't want to wait anymore. Bought at 77.12. SL is 71.69 for now. Will take profits along the way with an overall target of $106.
A little more on why I took this trade. Of course, fundamentally, you all probably know that halving occurred. The market sold the news and now from a technical standpoint, little Litecoin looks to be oversold. You can see on the RSI chart below that every time we hit that ascending red TL, we popped for a gain of at least 50%. Every. Time. Thus, probability here remains largely in our favor just from this one indicator.
Now follow that black vertical line up the chart. You will notice that it intersects with our candle today which lies directly on strong support (red TL) from December of last year.
Could we break below these major trendlines I have drawn on all my charts and get stopped out? Well yeah. Of course! But I like my chances here.
This is not financial advice. Just showing you all what I am doing here.
Best,
Stew
I bought LTC here as well!