stewdamus

Litecoin LTCUSD to test $45 support - Should bounce here

Pembelian
COINBASE:LTCUSD   Litecoin
As I stated in my last post, I may have jumped the gun a bit on my Litecoin purchase. I knew this. But because I am a swing trader, I did not want to miss out on opportunity at that $50 level which provided fairly strong support. The next support level I see is even bigger. Why? 3 reasons:

1) I have redrawn my Fib retracement from the lows on 3-30 to the high on 07-05. This now provides .236 retracement support at approx. $45.
2) The low of our 07-04 candle sits at around $45
3) The middle Bollinger Band and 20 MA should intersect the first two supports at this level.

If you have not already picked up some Litecoin, I would advise doing so at $45. You could always DCA down from there, should we go lower. I happen to believe we'll bounce at $45.

Happy trading friends.

Stewdamus Trades -

Prophesying the price action of markets one chart at a time.

Crypto predictions, targets, how-tos, and much, much more!

Never miss a prophecy. Sign up for my free newsletter at:

stewdam.us
Pernyataan Penyangkalan

Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.