Litecoin Price Technical Analysis for 12/6/2015 - Stop Loss Hit, Wait Out!
Litecoin bulls have made a great attempt in narrowing the recent losses as the price advanced roughly 1.5% to be trading at $1.797. I had mentioned in my previous analysis, Support Breached, Look to Exit! that market participants should build short positions on rise up to $1.785 by maintaining a stop-loss just above $1.795. Since the stop-loss has been triggered, it only makes sense to adopt a wait and watch strategy until convincing directional signals emerge. The 240-minute LTC-USD price chart indicates that the market may test the patience of the traders for a little longer before it....
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Litecoin manages to stay afloat, thanks to the rebound in Bitcoin, and can be seen testing an important short-term resistance. At $2.844, Litecoin also offers a very low-risk shorting opportunity. But before we go all bearish on Litecoin, let us visit the latest technical indications for further clarity. Here is a lowdown of the key technical aspects from the daily LTC-USD price chart. Litecoin Chart Structure - From the above chart, it is clear that Litecoin has been trading in a contracting channel since September 7. The cryptocurrency is now at the higher end of this range, which tempts....
Litecoin has formed a short-term base around $1.440 and is consistently striving to re-enter the previous trading band of $1.449-1.459. In the past 24 hours, the virtual currency has jumped up to $1.459 - the resistance level - before being brought down to the floor value of the previous trading range. Litecoin is trading at $1.452, up 0.76% from yesterday's observation of $1.441. I had discussed in my previous analysis that Litecoin will reach the level of $1.455, at which market participants may initiate short positions by placing a stop-loss above $1.459. Litecoin has been unable to....
Following the lead of Bitcoin, Litecoin has gained 5.69% over the weekend. The advance has also brought the price closer to its resistance zone, beyond which Litecoin may witness a massive rally. Litecoin is currently trading at $3.047. In my previous analysis titled This Market is not for the Greedy!, I had suggested that Litecoin be shorted by keeping a strict stop-loss above $2.980. Those who would have followed this advance would have minimized their losses significantly. Technical analysis of the 240-minute LTC-USD price chart points to a probability that the cryptocurrency may, in....
Litecoin has advanced following the lead of Bitcoin in the anticipation of a solution to the Greek crisis. While Bitcoin has staged a breakout, Litecoin's upside potential remains capped by a resistance line. Litecoin is currently trading up 0.97% at $3.019. I had mentioned in my previous analysis that Litecoin should be shorted if the price rose to $3.020, and I reiterate that short positions should be built by placing a stop-loss (closing basis) above $3.050. Technical analysis implemented on the 240-minute LTC-USD price chart indicates that the market is awaiting a trigger to make a big....
Litecoin price has risen 0.53 percent to get even closer to the downward sloping resistance line discussed earlier in Short, But With a Tight Stop!. Now at $3.920, Litecoin presents very low-risk trading opportunities to both buyers and sellers. But, like always, following the stop-losses will be the key. Since Litecoin is at the resistance level, a positive breakout can bring huge gains to the buyers at low risks (by putting a stop-loss, of course) and if it falls, the gains can be enormous while the risk is minimal. Take a look at the technical considerations of the daily LTC-USD price....