LTCUSD Market Update - 4/26/21
Updated
Just like Bitcoin and Ethereum as well as the other top crypts by market cap, Litecoin looks like its found its potential bottom along the 2018 high level placed at $218
There is a very long term uptrend channel that has been respected for a long time and on this dip I believe this trend will hold.
At the moment, LTC formed a hammer candle along the $218 level without painting a single candle closure underneath it which indicates very bullish momentum.
I'm expecting more accumulation along the $218 level for the remainder of the month until we see the eventual breakout next month to new highs. Please check my attached related idea for the next long targets I already have placed on LTC.
We fell off a bit as people were taking profit, still in bullish momentum. Just be patient and this will reverse
There is a very long term uptrend channel that has been respected for a long time and on this dip I believe this trend will hold.
At the moment, LTC formed a hammer candle along the $218 level without painting a single candle closure underneath it which indicates very bullish momentum.
I'm expecting more accumulation along the $218 level for the remainder of the month until we see the eventual breakout next month to new highs. Please check my attached related idea for the next long targets I already have placed on LTC.
We fell off a bit as people were taking profit, still in bullish momentum. Just be patient and this will reverse
Trade closed: target reached
Quick update on the 4H time frame of Litecoin, it wicked the weekly resistance at $262 and the trade was closed from there. Profits were taken and now we re-evaluate the position.
Right now it looks like Litecoin is going to slowly bleed off / accumulate going into the weekly / monthly close this weekend. Expect a little pullback as Litecoin paints the bottom wick of the monthly candle.
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