Long

Litecoin to Make a Small Rally and then Who Knows?

By j0nesy1977.mj

Updated

I've been following Litecoin closely as I recently lost around 10% on a trade hitting a stop loss. I was looking to short it, looking for bearish signals. However all the signs I found were bullish. Pointing towards a small reversal. Check out the chart 2hr chart all the information is highlighted via call outs. In summary, we have bullish divergence, a golden cross, a three line strike and an inverse H&S. All pointing to a short term uptrend. So I've enter a up a quick short term trade as follows:
Entry - 215 (I got in at 200)
Stop Loss - 205
Exit- 233 - 243 (at around 10% profit)

Note

I still believe its going to 230+
Based on 2hr chart.

Admittedly 1hr looks a bit more bearish

j0nesy1977.mj

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