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LTCUSD possible upperside breakout was expected in h4

Long
COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTCUSD
After reaching around 250.00 LTCUSD has started to falling and reached around 200.00 which is a major psychological level and this level
also coincides with .618 Fibonacci which will act as dynamic support and resistance for both bull and bear.In Elliot wave principal we can see
Wave D was already completed and the Wave E is underway. We can expect another round of Elliot impulse wave after the completion of Wave E'
Irregular triangle pattern was forming since the end of January.Upper side breakout will be a possible outcome
Currently the price is well below the .618 Fibonacci if the price remain this Fibonacci then it might reach around .50 Fibonacci level which is around 182.00 and
this level will act as medium term support for the bull. And 50,100,200 EMA was acting as resistance for the bull in 4 hour time frame. 0.50 Fibonacci will inclined with the
lower side of the trend line which will be a good entry point for the bull. Ichimoku cloud has turned red which is a sign of medium term bearish trend

Trade call
Buy limit @ 183.00
Take profit @ 280.00
Stop lose @ 149.00

Comments

very nice chart
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