Trade Recommendation: Litecoin

This is a short term trade. If the price bounces from 0.018500 support level and moves above SMA50, we should expect further upward movement. ADX line rises and it tells us that buyers become stronger. RSI confirms price reversal but does it not far from 50 level. It gives us a new buy opportunity. Entry level is 0.019300 with stop below the local swing lows at 0.018000 level. Profit targets are 0.020000 and 0.021000 levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: LTCBTC
Buy: 0.019300
Stop: 0.018000
Profit Targets: 0.020000 and 0.021000

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Litecoin.

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.