Litecoin has been downtrending for a long time now, similar to Bitcoin -1.79% .
Moving in a descending triangle pricewise and also on the daily RSI .
The daily MACD is also moving in a well respected triangle
These patterns should reach their ends by the end of August, if not even before that.
The direction will depend heavily on BTC -1.79% but they are nevertheless very bullish patterns.
My trade setup:
Buy: ~76
SL: Below 69
If LTC falls below the white support line and BTC -1.79% is also pointing down (a break of 6800 - 0.618 fib would confirm further downtrend)
then I´ll probably be looking to go long again at the peak of the descending triangle .
Note: Alts have suffered heavily and are bottoming out so a new alt cycle would be needed
if some people would want alts to actually survive.
Also there is a correlation between BTC -1.79% dominance (48.2% right now) and alt cycles.
The chart below shows when alts started to run heavily again.
imgur.com/a/yT1G93s
Moving in a descending triangle pricewise and also on the daily RSI .
The daily MACD is also moving in a well respected triangle
These patterns should reach their ends by the end of August, if not even before that.
The direction will depend heavily on BTC -1.79% but they are nevertheless very bullish patterns.
My trade setup:
Buy: ~76
SL: Below 69
If LTC falls below the white support line and BTC -1.79% is also pointing down (a break of 6800 - 0.618 fib would confirm further downtrend)
then I´ll probably be looking to go long again at the peak of the descending triangle .
Note: Alts have suffered heavily and are bottoming out so a new alt cycle would be needed
if some people would want alts to actually survive.
Also there is a correlation between BTC -1.79% dominance (48.2% right now) and alt cycles.
The chart below shows when alts started to run heavily again.
imgur.com/a/yT1G93s
Dagangan ditutup: sasaran tercapai
Trade stopped.Alts are in for a red time again.
Check BTC update for the trend we are in right now.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.