DmitryQuail

LTC/USD Critical Point Spotted

Long
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Hey folks!

No time to explain...straight to the chart:

LTCUSD is about to break its local resistance level (see previous structures that confirm this argument). Moreover, according to the Ichimoku (20/60/120/30 - perfect settings for crypto currently) the price is about to complete the breach and hence there is a strong indication for the price to go even higher. MACD - overcross spotted! RSI is steadily climbing higher. In general, if you look at Fibonacci retracement 38.2% - this is the next critical level which if breached opens the road to 61.8%. If you take a sharp look at the Fibonacci Extention line 38.2% you can notice that this line almost perfectly aligns with 38.2% of Fib.Retracement which combined is a strong price level for LTC.

The market is currently in favour of crypto and it looks like we are in a "recovery" stage. Though, not entirely.

Anyways, plz always do your own due diligence. I am waiting for the resistance level breach.

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