Litecoin When to Buy

Let's look at the 4H chart of Litecoin and find possible entry levels for buying. We can see that price bounced from the downtrend line and moved lower to 34.00 support level. If price drops to this level and the uptrend line, this area will be the 1st entry level for opening long trades. Stop orders for these trades must be lower than the uptrend line and take profit orders must be placed at the downtrend line. The 2nd entry level for long trades can be higher than the downtrend line. If price breaks this resistance line, we'll have a signal for possible up movement. Stop orders for these trades should be lower than 34.00 level with profit target at 46.00 resistance level. And the 3d entry level should be higher than the local swing high - it's 41.00 level. Stop orders for this group of trades must be lower than 34.00 level and profit target near 50.00 level.