LTC/USD: One Last short squeeze?
Diupdate
I've been getting quite a few messages to re-update for LTC.
If you guys followed my posts from the past month of calling a retracement back to $154 and $136 from our high of $244, those who followed should be in great profits. Congrats. I'll post the links below just so you can click the satisfying play button :)
LTC has MAJOR resistance between $175-178, LTC should trade around these levels if BTC wants to reach it's $9300-9400 target.
Let's take a look at BTC (see my recent posts on BTC) It is leading all other coins to print an identical pattern.
BTC is in a rising wedge with 2 scenarios.
1: Break down the wedge from 9350ish and retrace to $8700
2: Break down at $9100 and retrace to 8400ish.
LTC has a similar print, if it breaks down from it's rising wedge we will have another buy opportunity ~156-160. (base retracement of the wedge)
It is currently facing it's 4 month old downtrend resistance.
I won't go in-depth in indicators as I have it setup in the original charts for those of you who went long.
Day trade setups
Feb. 20 post
March 2 post
Active BTC posts
Long
Short
If you guys followed my posts from the past month of calling a retracement back to $154 and $136 from our high of $244, those who followed should be in great profits. Congrats. I'll post the links below just so you can click the satisfying play button :)
LTC has MAJOR resistance between $175-178, LTC should trade around these levels if BTC wants to reach it's $9300-9400 target.
Let's take a look at BTC (see my recent posts on BTC) It is leading all other coins to print an identical pattern.
BTC is in a rising wedge with 2 scenarios.
1: Break down the wedge from 9350ish and retrace to $8700
2: Break down at $9100 and retrace to 8400ish.
LTC has a similar print, if it breaks down from it's rising wedge we will have another buy opportunity ~156-160. (base retracement of the wedge)
It is currently facing it's 4 month old downtrend resistance.
I won't go in-depth in indicators as I have it setup in the original charts for those of you who went long.
Day trade setups
Feb. 20 post
March 2 post
Active BTC posts
Long
Short
Catatan
Broke down just as expected. BTC should be trading around $8360-8450 whenever LTC reaches it's target zone for the down-side wedge breakout. Congrats to those who shorted :)
The market is way too sober right now so it may take a few hours to decipher it's next move.
Catatan
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