Litecoin’s February 28 order block has been completely retracted during intraweek’s swing low move but continues to play an important role.

As a result, my June 19’s long trade plan has exited in another loss after holding for 4 days and 22 hours:

https://www.finlogix.com/analysis/20240619/litecoin-intraday-analysis-and-trading-plan-for-june-19-2024

The US is set to have 4 remaining high impact economic reports starting tonight to wrap this trading week.

The crypto markets in general including Litecoin remain in a sideways price action and waiting for further confirmation from their recent support levels.

Re-assessing LTCUSD’s high timeframe candles:

Yearly Candle: Last check is a Green Long-Legged Doji now a Red Long-Legged Doji

Monthly Candle: Still a Red Body since last check but with a Longer Tail Wick

Weekly Candle: Previous close is a Red Body with a Longer Tail Wick current is a Red Hammer

Daily Candle: Previous close is a Red Long-Legged Spinning Top current is a Green Long-Legged Doji

In today’s analysis, I change the retracement points of view using the shallow June 20-25 swing high to low move.

Based on these retracement points, staying above the 70 level is an utmost priority to play out a price upward reversal.

Litecoin remains above this level after Tuesday’s drop and if buyers start a breakout move, June 20’s immediate internal high will be easily broken up to the 80 level which ends the May 21 downtrend.

Failure to sustain this area through another Bitcoin dump can proceed a swift retest towards the lows this week at least.

Today’s trade plan is setting another long position entering the current levels with the same take profit target previously at the 81 mark but a deeper stop loss at 66.

Here are the long order details to play this setup:

Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.

Litecoin is still in the hands of the sellers as long as the May 21 downtrend persists.

All trade ideas I share are my own views and for my own trades only.

Litecoin Intraday Analysis and Trading Plan For June 27, 2024

Jun 27 2024

Stop Loss -6.29%

Holding time 7d12hr

70.413

Entry price

65.986

Stop loss price

1