By looking at the price movement of the Litecoin cryptocurrency on the 4-hour chart which managed to broken above the EMA 20 & EMA 50 and move in a channel that is going upwards and is also confirmed by the appearance of the Bullish 123 pattern which is followed by the appearance of the Bullish Ross Hook (RH), then in time near Litecoin has the potential to be corrected to strengthen the level of 68.30. It will try to be penetrated upwards. If this level is successfully broken, Litecoin will try to test 70.27 as the main target that will be tested and if the momentum and volatility are supportive then the level of 72.27 will be the next target to be aimed at, but if it is on its way towards the targets previously outlined, Litecoin suddenly returns to its initial bias and broken below the 62.18 level, then all the strengthening correction scenarios that have been outlined will become invalid and automatically cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com #
No comments:
Post a Comment