Hi Traders! Litecoin short term forecast update and follow up is here. On February 24th I shared this “Litecoin Short Term Forecast” in Trading View. This trade moved perfectly as per our plan and provided us excellent profits and gets added to my list of successful trades. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available! In this post lets do a recap of this setup and see how it has developed now.
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Now lets summarize the idea first:
Litecoin D1(Daily) Chart Analysis
Price reached a very strongformed by the 100% level of the first wave we have and an important . divergence.
Litecoin H4(4 Hours) Chart Analysis
Price is moving inside aThe top of this channel coincides with the daily and also we have the 80 psychological area around the same zone. Price has bounced from this important and is moving lower.
LTCUSD H1(1 Hour) Chart Analysis
Double wave up, the 100%of the first wave we have coincides with the important . We had a divergence and an uptrend line breakout. Until this holds my short term view remains here.
Litecoin Sell Trade Has Provided Us Excellent Profits
Based on the above mentioned multi-timeframe analysis my short term view was bearish in Litecoin. On the H1 chart the price moved perfectly as per our plan. I was looking for sells towards the bottom of the bearish channel. The price moved lower and has currently reached below the bottom of this channel. This sell trade has provided us excellent profits.
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