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LTC/USDT Potential Upward Movement

LTC/USDT Long-Term Trend: Bullish

Key Resistance Levels: 207.17, 214.03, 230.23

Key Support Levels: 196.01, 185.00, 177.60

Daily Chart:

The price on the higher time frame it is trading inside an expanding wedge formation where the price managed to break the bullish flag formation to the upside. Also, we can notice that the price is posting higher highs and lows signaling that we are in a clear uptrend.

LTC/USDT Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading inside a bullish channel formation where the price is expected to post a correction count towards the area of confluence. This zone is made of a strong support and the lower end of the channel around the 196.39 USDT mark. This could lead to a move upward again in the direction of the main trend.

Signal Idea:

Buy Limit Order @ 196.39

TP 1 @ 205.02          

TP 2 @ 207.17

Stop Loss @ 192.08

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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