Long LTC trade as it comes into key resistance level at 121
LTC is coming into a key level which is the convergence of the 61.8 Fib retracement from the May 2019 correction and the 1.618 extension from the Feb 2020 correction.
Look for it to break and retest as support to go long at 121 as it did the week of 14 December at 84.50.
Take profits at 146 (look for the same thing to happen as it emerges from a cup with handle formation). Tight stop loss at 115. If it doesn't hold 121, it may go back down to 102 or 85 before resuming the long-term uptrend.
Look for it to break and retest as support to go long at 121 as it did the week of 14 December at 84.50.
Take profits at 146 (look for the same thing to happen as it emerges from a cup with handle formation). Tight stop loss at 115. If it doesn't hold 121, it may go back down to 102 or 85 before resuming the long-term uptrend.