Fibonacci's power.

LTC is struggling a lot now, because it is in a very strong zone, the 38.2% fib retracement. A drop to U$ 44.50 is acceptable, but beyond that starts to get dangerous. As I said in my previous analysis, I’m still holding some with me, and I set a stop-gain at my entry point. We are still profiting, as our trade is still going fine.

Check my previous analysis here:

Now let’s see what the hourly chart tells us:


If the price breaks that black line could trigger a pivot and take the price back to U$ 51, but if it loses that red line there’ll be problems ahead.

Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.

Stay safe. Thank you very much.

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