Trade Recommendation: Litecoin

The price is going to break the downtrend line and continue the upward movement. MACD lines give us a bullish signal. DMI tells us that we should not expect for strong downward movement. If so, we can use the previous swing high for placing buy orders. If the market moves above 72.00 resistance level and the swing high, it will be  a good signal confirming the uptrend. Entry level is 72.50 with stop orders at 68.50 level. Profit targets are 80.00 and 90.00 levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: LTCUSD
Buy: 72.50
Stop: 68.50
Profit Targets: 80.00 and 90.00

The trading signal is based on Poloniex chart.
Disclaimer: The analyst are some invested 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.