LTC Coil Tightening
מעודכן
Yaaay for Litecoin. Right about now is when previous me would get tired of waiting on a move, sell, move into something else, and miss the move. Not this time.
1) See the head & shoulders pattern? Hindsight is so clear. Love it.
2) Down trend hasn’t broken
3) RSI says the market is fine where it’s at on this timeframe
4) That sure was a weak a** fast over slow cross on the MACD
What to do…
I don’t see any reason to worry about a long term position since we’re post-halving without much drama.
Price is way below the 50 SMA, which happens to be pointing down at the moment, so no rule-based justification to enter a long position. Having just been rejected at the 21 EMA isn’t bullish at all. The best thing we have going is *sort of a descending triangle, not a great one, so let’s see how it plays out. Downward break = watch out below and add to long term. Upward break = look for the pull back retest, enter, and to the moon.
Good luck.
1) See the head & shoulders pattern? Hindsight is so clear. Love it.
2) Down trend hasn’t broken
3) RSI says the market is fine where it’s at on this timeframe
4) That sure was a weak a** fast over slow cross on the MACD
What to do…
I don’t see any reason to worry about a long term position since we’re post-halving without much drama.
Price is way below the 50 SMA, which happens to be pointing down at the moment, so no rule-based justification to enter a long position. Having just been rejected at the 21 EMA isn’t bullish at all. The best thing we have going is *sort of a descending triangle, not a great one, so let’s see how it plays out. Downward break = watch out below and add to long term. Upward break = look for the pull back retest, enter, and to the moon.
Good luck.
הערה
Well, descending triangle looks to be breaking depending on today’s close. Will track and post a new idea when buy signals show up. Conserve capital!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.