LTX Rebound??

3 Sep 2019

LTCBTC Is sitting right at an upward sloped support line from previous lows. In addition to this, price action has formed a loose form of a harmonic pattern . Not quite a butterfly because the "B" point did not retrace to the .786, only near the .618 fib. Besides that point, it fits within a bullish butterfly pattern with the theoretical entry point coinciding with the support line shown on weekly chart below. I am hopping in here for a shot at it, stop loss set tight just below the trend line , so at .006125 representing just over 5% loss possible. Target is the .618 of C-D, so .01335 area, representing just over 100% gain from current entry. RRR then lands near 20:1 in favor of reward. Worth a little cash to find out if LTC can either try to catch up to BTC gains or stay steadier during a BTC decline. We shall see. Happy hunting and GLTA!!