Litecoin trading cryptocurrency market update for Feb 20, 2019

Feb 20, 2019 --- Altcoins

Litecoin trading cryptocurrency market update for Feb 20, 2019

Daily Chart

The LTCBTC bulls are at a critical juncture right now considering price has spiked up to new regional highs above 0.013 over the past 24 hours on another bright green SCMR signal that is confirming bullish market structure for now, although currently price is back below the previous regional highs thus sparking an increasingly bearish candle formation that could signal a false breakout and thus the end of the rally for the time being leading to a selloff back down to 0.0xx (where we still want to be buyers). That said, there is still time left until the daily close and almost all of the other technical indications we watch are still firmly bullish, so we wouldn't be surprised to see price regain the 0.0xx level over the next few hours which would likely lead to a continuation higher up near the 0.0xx level over the coming days.

We will consider a LONG position on a retracement back down to the 0.00xx - 0.0xx area with a stop around the 0.00xx level and a target of 0.0xx.

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