Market & Ticker: Bitcoin - LTC/USDT 

Date: 31/05/2023 
 
Horizon / Timing:  Mid-term / 1 to 3 Months 
 
Litecoin (LTC) developed a large recovery after a year progressing within an ascending channel. This configuration shows a clear upside trend in progress with a potential toward the upper part of the graphical element at 145.00 

Scenario: 

As long as 78.00 remains valid (Daily close) we expected a further recovery from 87.00/92.00 entry level towards 105.00/115.00 intermediate resistance on the short-term before 145.00 on the mid-term and  

Technical Key Elements: 

- Key moving average and RSI are flattening calling for range configuration before upside breakout 
- Elliot wave is calling for a further rise to complete C wave 
- Key Fibonacci resistance is defined at 115 and 145 
- Key Fibonacci support is defined at 78 

 
Trade Idea conclusion:  Buy Conviction: 

(High)

• Target 2: 145,00 (55%)
•  
• Target 1: 115.00 (25%)
•  
• Buy: add in dip area 87/92
•  
• Stop: 78 (-15%)

Chart: DailyBasis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21)