Daily Update: Litecoin (LTC) - Feb 28th

Litecoin is at an important crossroad right now after last night breaking out of the flat pattern. One of two things could happen at this point, the first is that it bounces off this support line and moves up as it has done in the past. The other possibility is that it breaks this support and creates a flat and falls. I am looking for upside on this trade but if it breaks the support I will wait to see the consolidation before exiting and buy in again on the dip. If it does continue this bullish trend I will wait for it to test resistance lines and start taking profits as it climbs higher.

Remember to always set your stop losses as you don't want to be in a trade if you are wrong on the direction of the move. As always hope this was a helpful post and have a good day trading.