Litecoin Short Term Forecast Update And Follow Up

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Litecoin Short Term Forecast Update And Follow Up

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 strong resistance zone formed by the 100% fibonacci expansion level of the first wave we have and an important resistance level. Bearish divergence.

Litecoin Short Term Forecast Update And Follow Up

 

 

Litecoin H4(4 Hours) Chart Analysis

Price is moving inside a bearish channel. The top of this channel coincides with the daily resistance zone and also we have the 80 psychological area around the same zone. Price has bounced from this important resistance zone and is moving lower.

Litecoin Short Term Forecast Update And Follow Up

 

 

LTCUSD H1(1 Hour) Chart Analysis

Double wave up, the 100% fibonacci expansion of the first wave we have coincides with the important resistance zone. We had a bearish divergence and an uptrend line breakout. Until this resistance zone holds my short term view remains bearish here.

Litecoin Short Term Forecast Update And Follow Up

 

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.

Litecoin Short Term Forecast Update And Follow Up

For similar trade ideas and much more join the Traders Academy Club and get access to our complete watch list and trade report. 

This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course Live Trading Room every single day.

Litecoin Short Term Forecast Update And Follow Up

 

If you have any questions, don’t hesitate to drop a comment below!

 

Yours to your success

Vladimir Ribakov

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