Litecoin Price Technical Analysis for 12/6/2015 – Stop Loss Hit, Wait Out!


Litecoin Price Technical Analysis for 12/6/2015 – Stop Loss Hit, Wait Out!

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Litecoin bulls have made a great attempt in narrowing the recent losses as the price advanced roughly 1.5% to be trading at $1.797. I had mentioned in my previous analysis, Support Breached, Look to Exit! that market participants should build short positions on rise up to $1.785 by maintaining a stop-loss just above $1.795. Since the stop-loss has been triggered, it only makes sense to adopt a wait and watch strategy until convincing directional signals emerge.

litecoinImage: https://www.tradingview.com/x/b1hmdEB6/

The 240-minute LTC-USD price chart indicates that the market may test the

Read more … source: MinderDesk

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