TomProTrader

LTC/USD - Buy Opportunity

Long
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BITSTAMP:LTCUSD   Litecoin
What's up traders,

Here we have LTC/USD on the 4H chart.

LTC/USD appears to be ready for an up move. Litecoin has recently been in a gentle downside correction after the strong up move previously. Since then, I have been watching for levels for it to bounce.

It appears LTC/USD is now ready for a nice up move. Price recently retested a strong horizontal support zone at 244.00, and showed strong reversal candlesticks at the lows. This indicated there could be sufficient momentum to break the sidewards resistance at 271 and break to the upside.

If price successfully breaks and closes above the sidewards resistance line at 271, I am expecting an up move to the upside target of 364.

Below I have posted my other Cryptocurrency related ideas. I would appreciate it if you could view my other content an leave a like.

I will updating this analysis if it exceeds 40 likes.

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