Crypto Trading Idea, Analysis & Setup: Buy LTC Monday August 28

Technical Chart Analysis :
LTC/USD
Summary: Litecoin (LTC) is consolidating now for quite a while within a triangle. In my opinion, LTC is ready for an upwards break-out. LTC reached a low of $49,144 on August 14 and jumped from that point towards 62 bucks.

Trading Idea: Buy LTC @57,45 with stop-loss below $49. This means a stop-loss of approximately 14% below the current entry level and with a target of $9 which is the previous high of July, we have a profit/risk-ratio of 2 to 1 which is for me a sufficient ratio to trade. First resistance we can find at $62,72.

Note: – Always DOYR (Do Your Own Research). This is not an explicit advice and just for educational reasons. You can read more about our Price Action Course here: https://cryptoacademy.nl/price-action-trading/

Chart Commentary Disclaimer: Our views on the Charts is not advice or a recommendation, it is educational and general information only.