LTC Trade Zones: Short or Long?
2025-01-18
Category: None

LTC has been making some moves recently, with a solid rise getting close to a key high. But the current price action hints at an ABC corrective structure, so a pullback could be on the way.

 Short Setup: 
 
 Entry: Between the 0.618 and 0.786 Fibonacci retracement of the current wave
 
 
 Stop Loss: $141.4 (the previous high)
 
 
 Target: $130.7
 
 
 R:R: About 2:1
 
 Long Setup: 
 
 Entry: Around $130, with confirmation
 
 
 Stop Loss: $126.45
 
Targets:
 
 First at $134
 
 
 Second at $147 (the key high)
 
 
 R:R: A nice 5:1 potential
 
 Why These Levels? 
 
 The $130 support zone lines up with the 1:1 Trend-Based Fibonacci Extension ($130.29)
 
 
 It’s also near a previous swing high, adding more weight to it as a strong level
 
 Plan: 
 
 If price moves into the retracement zone, a short trade targeting $130 makes sense
 
 
 If it hits the $130 support and shows strength, a long setup targeting $134 and $147 could be a great play
