LTCUSD – Litecoin – Week 5 – One more down?

Litecoin had a low volatility week, staying in the same price area. One more move down seems to have a higher probability that breaking the trendline and continuing up. We forecast a down move that should reach the price of 98-100$ for one LTC (bottom rectangular area on our chart). However if the price keeps going up and breaks the 165$ area for one LTC we should a continuation for the big weekly uptrend.

Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.