Litecoin Hits Support, Potential Bounce Zone

Litecoin (LTCBTC) has hit the 0.786 Fib. retracement support and is now trading just above EMA100, sitting on a great spot for a bounce, but there are a few things to take into consideration first... Feel free to hit like now and let's continue with this analysis:

• LTCBTC has been showing huge momentum on the drop, so it can still go a bit lower.
  
• If EMA100 doesn't hold (daily candle closes below it), then you can expect for EMA200 to be tested.
  
• If EMA100 holds as support, we can expect Litecoin to bounce and start a new wave up.
  
• Green volume was good yesterday, bulls need to follow up today for a bounce.
  
• Different scenarios drawn on the main chart.
  

Thanks a lot for reading.

Namaste.

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Bitcoin update:

Tron on BitMEX (TRXM19)(140% ROE on 10X):

Yorum:

Perfect bounce for our LTCM19 trade.