#LTC/BTC - Price remains sideways. Update of my last overview
According to my last overview, i still consider this a good zone to set our buys in Litecoin for mid-long term.
Price has been sideways for months between 0.0044BTC and 0.0048 BTC and it could take a bit longer before have a go
Weekly chart
- RSI bullish divergency
- MACD is crossing and starting to share positive. However, it would need to push a bit higher to translate a in higher prices
- CCI still in red territory but slowly recovery. We could be looking for a green territory in the following weeks
- Main moving averages far away of the price. EMA20 sitting on my first target
- Price action need continuation. Last week was fine and this one looks corrective/indecision. Also, touched and rejected by the trendline. We would need to look into the next week to see if prices is going to break it or back into the lows again.
- CMF is not looking great yet
Daily Chart
- Price action break into EMA20+MA50 and after market entire dump its trying to defend it. It would be bullish if price finally is able to stay above it for some days. In drops case, we will visiting lows again.
- Momentum and OBV aren't looking great. CCI and CMF shares us this last days bullish movement was tiny.
- MACD and RSI is fine but looks on a way of correction.
- Candlesticks formation aren't bullish now after this drop. We need to build a bottom before have another go
Final Conclusion
Litecoin price action has been sideways for some months and price action isn't looking great yet. I think this is a very good zone for investors who aren't looking to do a daily trade. However, majors coin looks slow and it could take a bit longer a good push higher
According to stop loss, remember what's important is closed candlesticks to avoid false spikes before activate your stop loss. Crypto is so tricky and we could be looking for a false breakdown before the real bullish movement.
Good luck !
Mike
Price has been sideways for months between 0.0044BTC and 0.0048 BTC and it could take a bit longer before have a go
Weekly chart
- RSI bullish divergency
- MACD is crossing and starting to share positive. However, it would need to push a bit higher to translate a in higher prices
- CCI still in red territory but slowly recovery. We could be looking for a green territory in the following weeks
- Main moving averages far away of the price. EMA20 sitting on my first target
- Price action need continuation. Last week was fine and this one looks corrective/indecision. Also, touched and rejected by the trendline. We would need to look into the next week to see if prices is going to break it or back into the lows again.
- CMF is not looking great yet
Daily Chart
- Price action break into EMA20+MA50 and after market entire dump its trying to defend it. It would be bullish if price finally is able to stay above it for some days. In drops case, we will visiting lows again.
- Momentum and OBV aren't looking great. CCI and CMF shares us this last days bullish movement was tiny.
- MACD and RSI is fine but looks on a way of correction.
- Candlesticks formation aren't bullish now after this drop. We need to build a bottom before have another go
Final Conclusion
Litecoin price action has been sideways for some months and price action isn't looking great yet. I think this is a very good zone for investors who aren't looking to do a daily trade. However, majors coin looks slow and it could take a bit longer a good push higher
According to stop loss, remember what's important is closed candlesticks to avoid false spikes before activate your stop loss. Crypto is so tricky and we could be looking for a false breakdown before the real bullish movement.
Good luck !
Mike
Trade active:
Gogo !
Trade active:
Good job !
More trades in t.me/MikeTopCryptoSignals
More trades in t.me/MikeTopCryptoSignals