Pattern: Triangle
Last week we identified Litcoin was riding on a sideways channel:
Article Here --> Litecoin Trend Reversal
Litecoin has tested the support at $200 for the second time and has bounced, confirming this support level. Based on the low RSI (Relative Strength Index) I expect Litecoin move up and test its previous resistance at $377. After it reaches this area of resistance we can expect the price to bounce or break through. Either way that's a +65% potential Return on Investment!
As always, you can never be 100% sure of the outcome. At the end the market will decide!
Recommended Guidlines to Follow:
- Wait for the Break Out
- Open your position by following the trend
- Set your target limits
**Always set your stop losses when long
I wish you MASSIVE profits on all your trades,
Buy Bitcoin and get $10 worth of free bitcoin by signing up to Coinbase
Trade Verge (XVG) and other alt-coins on Binance
UPVOTE - COMMENT - RESTEEM
What cryptocurrency would you like me to cover next? Would you want these posts to be more detailed in a Technical Analysis standpoint or simple and to the point? Do you agree with this position? What do you think will happen?
Let me know in the comment section below!
If you find this post helpful consider buying me a Beer:
BTC - 3AQP9LMjY8SNSZ6nfpsn67nVQe3db8tg3K
ETH - 0xc486b894321d3520D40f257B7fDbf904b25aBD65
LTC - MTbXPRKTcuMLdN6czDeEXzdSus7MnbponG
XVG - DKBHQX5zxQPizLym9Y2uWzfmQVJ1fVt6wM
Disclaimer: Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.