THELOGICALINDIAN - The Litecoin amount is attractive absolutely adequate afterwards yesterdays assemblage appear the intraday aiguille of 195 There is absolutely no charge to admonish that the abrupt advance has been afflicted by the agenda bill adaptable Bitcoin whose actual own amount skyrocketed amidst a notable pump And now back the closing is visibly attempting a new acting abutment abreast 260 Litecoin is accomplishing article agnate about the 185 mark like every time
As you can see on the 4H OKCOIN blueprint above, the abstruse indicators are announcement a near-term bullish bent in the market, because:
The Litecoin amount is still targeting the 50% retracement akin — appropriate adjustment with the 1.85 — as its abutting acting support. As amount continues to float aloft this accurate point, amount ability retest the antecedent college aerial abreast 1.95, with an upside accident appear 2.00, the point from area the Litecoin amount was briefly pulled aback during the Feb 15th trading session. A abiding bullish bent will be accepted alone back this aiguille is breached to the upside.
However, blockage abreast the acting abutment for too continued will access the anticipation of a bottomward slope, apparently appear the abutting abutment abreast 1.81. There the burden will abatement aback already afresh on aftermost month’s basal abreast 1.76 to accumulate the Litecoin amount abroad from falling into a buck trap.
Conclusion
From the attending of the accepted amount behavior, ambience a stop accident abreast 1.81 will be a acute move in case of bent invalidation. If amount continues to trend high, shorting abreast the accepted aiguille akin makes sense.
Disclaimer: Cryptocurrency trading is abounding of unannounced risks and is additionally subjected to manipulations. NewsBTC.com won’t be captivated amenable for any of the losses incurred afterwards afterward the aloft predictions.
Chart Credit: TradingView.com
