LTCBTC Trading Idea

If we look at the daily chart of LTCBTC pair, we'll be able to see trading opportunity. The market dropped from 0.021500 level to possible reversal zone. This zone is formed by the previous downtrend line and 0.015000 support level. If the market bounces from this zone, we'll have a new swing low. Now we can try to draw a new trend line 1 which will be a signal line in future. RSI is going to confirm price reversal. Based on this information we can expect for an upward movement. Entry level for long trades should be above 0.018000 level with stop orders below 0.015000 support level. Profit target for long trades must be at 0.020000 resistance level. Other variant of trading can be if price breaks the reversal zone and drops below the uptrend line 2. We'll get a signal confirming a downward movement. In such way we'll be able to open short trades with stop orders above 0.015000 level and profit target at 0.010000 support level.