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
Đóng lệnh: đạt mục tiêu
Trade stopped.Alts are in for a red time again.
Check BTC update for the trend we are in right now.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.