Todays short setup for LTCBTC
This is a short term trade based on:
This is a solid setup in my opinion with minimal upside (3.85%) - Stop less is set just above the recent pivot high.
Will cover half my short @ 0.012 (+7.5%) then let the rest run - real chance this could free fall...but more likely we just continue to see a bleed out, will probably cover before futures settlement date.
Risks: BTC moon run.
This is a short term trade based on:
- Bear Div in RSI, RSI oddly high on the lower timeframes
- Volume still dead
- EMA 20,50,VWAP all below current price
- No real zones of support around this price
- Lower high pivots
- Lower timeframe price action 5m-15m supporting a continued dive after current little pullback to the upside
- 3rd solid Test of 61% fib, all the above supports we break it
- THE TREND IS YOUR FRIEND.
This is a solid setup in my opinion with minimal upside (3.85%) - Stop less is set just above the recent pivot high.
Will cover half my short @ 0.012 (+7.5%) then let the rest run - real chance this could free fall...but more likely we just continue to see a bleed out, will probably cover before futures settlement date.
Risks: BTC moon run.
Comment:
Closing full position here on the possible double bottom @ 0.01249
Comment:
Double bottom held, decision to cover was right.