$LTC 🚨 Has Litecoin hit the peak? A very cautious sell (Short) trade plan! 📉
Post text:
After a rocket-like +23% surge within 24 hours, the **$LTC ** price has reached a strong resistance zone at 74.00 - 75.00$.
📊 Technical analysis:
• The price surged vertically from $59 to $74 with virtually no meaningful pullback.
• The order book shows buy pressure (67%), which means there is a possibility of long positions getting liquidated (Long Squeeze) soon.
• The price is struggling to break above the current high of $74.80.
🎯 Short setup details:
🔴 Entry zone: $73.50 - $74.50$ (prefer to wait for a red 1-hour candle close for confirmation).
🛑 Stop loss: $76.50$ (a 1-hour close above this level will invalidate the trade immediately).
✅ **Targets (Take Profit):**
🎯 First target: $70.00$ (a natural correction and profit-taking).
🎯 Second target: $66.50$ (retest zone).
🎯 Third target: $62.00$ (start of the next upward leg).
Post text:
After a rocket-like +23% surge within 24 hours, the **$LTC ** price has reached a strong resistance zone at 74.00 - 75.00$.
📊 Technical analysis:
• The price surged vertically from $59 to $74 with virtually no meaningful pullback.
• The order book shows buy pressure (67%), which means there is a possibility of long positions getting liquidated (Long Squeeze) soon.
• The price is struggling to break above the current high of $74.80.
🎯 Short setup details:
🔴 Entry zone: $73.50 - $74.50$ (prefer to wait for a red 1-hour candle close for confirmation).
🛑 Stop loss: $76.50$ (a 1-hour close above this level will invalidate the trade immediately).
✅ **Targets (Take Profit):**
🎯 First target: $70.00$ (a natural correction and profit-taking).
🎯 Second target: $66.50$ (retest zone).
🎯 Third target: $62.00$ (start of the next upward leg).
