LTCUSD is bouncing off the long-term channel support
On the Weekly LTCUSD chart, we can see that the instrument is bouncing off the Andrew’s Pitchfork long-term uptrend channel support line 118.03. A confirmed break above 186.30. There is a consolidation ongoing between 118 and 186 and you will need to watch these levels for a clarification of the next directional swing.
On a Dailzchart, we can see a new uptrend Pitchfork channel formed that is confirming a strong uptrend but with a limitation of 185 which needs to be broken to the upside for an extension higher and a test of 250. You can go long upon a break above the 185 to target 250.
We have used the combination of the top-down trading analysis to get these key levels explained in the charts. To learn more about Andrews’s Pitchfork tool trading strategy register for education.
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