Litecoin has formed descending triangle and getting ready for breakout by cryptokraze

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bitcoin · @cryptokraze · Feb 6 '18

$12.82

Litecoin has formed descending triangle and getting ready for breakout

## <center> CryptoKraze Technical Analysis</center>
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<center> In this post I am going to cover technical analysis of **Litecoin** for long term trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of **Litecoin**.</center>
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### Possibility on Daily Chart

<center>![ltc1d.png](https://steemitimages.com/DQmWEyocmY59qmW1P2vnymFvh8DH8vRtcV2Qskx3SKty4zn/ltc1d.png)</center>

If you look at daily chart, you will see **$Litecoin** has formed a descending triangle and likely to breakout. This is very common pattern in cryptocurrencies, whenever a coin makes this descending triangle, a breakout is imminent that might happen anytime soon. If we look at RSI, it has touched 70 level and has dipped below 50 level. It has to rise up to touch 70 level again. 
 
* I have a buy entry at $110 with my profit target will be around $180 and $260 or above.
* Stop loss just below the entry area is must for trading if you don't know the [**Averaging Technique in Crypto Trading**](https://steemit.com/cryptocurrency/@cryptokraze/averaging-technique-in-crypto-trading-or-to-maximize-profits-and-cut-losses).

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<center> **Have a look on my other Posts** </center>

<center>**[Breaking Barriers with Steem Education Initiative](https://steemit.com/steemit/@cryptokraze/breaking-barriers-with-steemit-or-the-cryptokraze-effort-to-empower-pakistan-with-steem-education)**</center>

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<center>**[Averaging Technique in Crypto Trading](https://steemit.com/cryptocurrency/@cryptokraze/averaging-technique-in-crypto-trading-or-to-maximize-profits-and-cut-losses)**</center>

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<center>_**Disclaimer**_
_Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void._</center>
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👍 cryptokraze, mangos, arunava, coininstant, honusurf, avesa, the.name, elitewizard407, bipolar, runningtree, joewo, fruityfizza, judiclearity, olaseniolamide, drfunk13, leejhoops, christianwindley, lucyford

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@agusmaulana07 · Feb 6 '18

upovte my steemit @cryptokraze my steemit @agusradiator7 thaks you verry much

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@onderisik · Feb 6 '18

Merhaba... @siteemit te yeniyim bana yardım edermisin ? I am help me

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@fruityfizza · Feb 6 '18

i will just wish you all the best for your dreams dear...

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@mukliss · Feb 6 '18

Good post mr.  @cryptokraze,  you are amazing when you get posting.. 


Follow me @mukliss

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@usman11 · Feb 6 '18 (edited)

$0.07

Entry looks good hope you will achieve your target.

👍 cryptokraze

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