A daily summary of the previous day’s market activity and review of current state of market on Cryptos.
Co-Relation with Bitcoin
As we can see a major resistance at the red ray and the buyers are dead at the moment as I can see a 100% retracement near the resistance. As you can see the Blue parallel region Price didn’t breach 13000 USDT and 16000 USDT so, buyers and sellers are not decided yet where the market will go. I anticipate that price can fall up to 16000 USDT and then bears will gain some momentum and then fall up to 13000 USDT. As we are Co-relating with BTC Alts may have some selling rite now that gives us a nice pullback so, that buyers can buy at cheaper price.
Daily Time Frame read
On the daily TF after the price breached the green ray we are officially in buyer’s territory and holding above the buyer’s territory. I can see a clear view that after breaching the 0.018 Sats LTC didn’t make a HH and didn’t make a LL after 0.016 Sats as you can see a big know back by the buyers indicating that they don’t want to go lower hence we are working on the strength of Base and Quote currency. 1st Touch is at 0.0165 Sats and 2nd touch is at 0.019 Sats and 3rd touch is at 0.0165 Sats. So, I can do a Buy now and do a sell after hitting the 0.019 Sats. We can see a clear cut price action on the 240H.
240H Time Frame read
On the 240H after price breached the orange ray we are still in buyers territory and we got some selling i.e. a pullback to buy at cheaper price and clearly indicating that price doesn’t want to go lower that the orange ray and buyers gobbled up so quickly and tried to make a HH and failed. Then sellers are so week that took them so many hours to come down to the 0.0165 area (This is another sign that Buyers are still in control) I can do some buying once I see price above the gray Ray and then target the 0.0197 Sat mark. LTC is Ranging on the daily and 240H.
Entries, Exits
There is no logical reason right now to short LTC because I don’t have room to do a sell. I can enter the trade once I can see price coming up aggressively and holding above the Gray Ray and exits at top of the Range.
Aggressive Entries and Stop loss
If you are quite aggressive in nature and don’t want to lose few Sats then you can enter the trade now. SL 0.001 Sats.
Conservative Entries
If you are conservative in nature then you can enter the trade once price comes up aggressively and holds above the gray ray and wait for 2-3 candles that shows the indication that price is not willing to go lower and then enter the trade.
Risk Management
• If you are an aggressive trader you can risk 2% of your capital on this trade.
Tight SL at 0.0010 Sat. Position Size should be calculated based on 2% of the capital/SL by Sats.
RR should be at least 1:2; and we have a best RR in place.
HODL overnight not more than that because BTC market is speculative atm.
• If you are a Conservative trader you can risk 1% of your capital on this trade.
Wider SL below the wick the blue indication line.
Position Size should be calculated based on 1% of the capital/SL by Sats.
RR should be at least 1:2; and we have a best RR in place.
HODL overnight not more than that because BTC market is speculative atm.
Trade Management
• Remove 50% of your profit once you make 5% on your investment and make SL to ‘0’ (Aggressive and Conservative entries).
No more positions to be added to this once you entered the trade.
What can go wrong with the market?
If BTC have good strength then trade might go in opposite direction If price didn’t stay above the gray ray then we have some selling coming
Co-Relation with Bitcoin
As we can see a major resistance at the red ray and the buyers are dead at the moment as I can see a 100% retracement near the resistance. As you can see the Blue parallel region Price didn’t breach 13000 USDT and 16000 USDT so, buyers and sellers are not decided yet where the market will go. I anticipate that price can fall up to 16000 USDT and then bears will gain some momentum and then fall up to 13000 USDT. As we are Co-relating with BTC Alts may have some selling rite now that gives us a nice pullback so, that buyers can buy at cheaper price.
Daily Time Frame read
On the daily TF after the price breached the green ray we are officially in buyer’s territory and holding above the buyer’s territory. I can see a clear view that after breaching the 0.018 Sats LTC didn’t make a HH and didn’t make a LL after 0.016 Sats as you can see a big know back by the buyers indicating that they don’t want to go lower hence we are working on the strength of Base and Quote currency. 1st Touch is at 0.0165 Sats and 2nd touch is at 0.019 Sats and 3rd touch is at 0.0165 Sats. So, I can do a Buy now and do a sell after hitting the 0.019 Sats. We can see a clear cut price action on the 240H.
240H Time Frame read
On the 240H after price breached the orange ray we are still in buyers territory and we got some selling i.e. a pullback to buy at cheaper price and clearly indicating that price doesn’t want to go lower that the orange ray and buyers gobbled up so quickly and tried to make a HH and failed. Then sellers are so week that took them so many hours to come down to the 0.0165 area (This is another sign that Buyers are still in control) I can do some buying once I see price above the gray Ray and then target the 0.0197 Sat mark. LTC is Ranging on the daily and 240H.
Entries, Exits
There is no logical reason right now to short LTC because I don’t have room to do a sell. I can enter the trade once I can see price coming up aggressively and holding above the Gray Ray and exits at top of the Range.
Aggressive Entries and Stop loss
If you are quite aggressive in nature and don’t want to lose few Sats then you can enter the trade now. SL 0.001 Sats.
Conservative Entries
If you are conservative in nature then you can enter the trade once price comes up aggressively and holds above the gray ray and wait for 2-3 candles that shows the indication that price is not willing to go lower and then enter the trade.
Risk Management
• If you are an aggressive trader you can risk 2% of your capital on this trade.
Tight SL at 0.0010 Sat. Position Size should be calculated based on 2% of the capital/SL by Sats.
RR should be at least 1:2; and we have a best RR in place.
HODL overnight not more than that because BTC market is speculative atm.
• If you are a Conservative trader you can risk 1% of your capital on this trade.
Wider SL below the wick the blue indication line.
Position Size should be calculated based on 1% of the capital/SL by Sats.
RR should be at least 1:2; and we have a best RR in place.
HODL overnight not more than that because BTC market is speculative atm.
Trade Management
• Remove 50% of your profit once you make 5% on your investment and make SL to ‘0’ (Aggressive and Conservative entries).
No more positions to be added to this once you entered the trade.
What can go wrong with the market?
If BTC have good strength then trade might go in opposite direction If price didn’t stay above the gray ray then we have some selling coming