Litecoin - Let's face it. You're done for now
Not financial advice. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
Litecoin has a nice run... I mean, this went over 100% from the lows thanks to BTC going on a run as well.
Not much to see here other than clear divergence on numerous fronts: Higher high on price, lower high on oscillators and volume died off on that last run up to the higher price as well.
I'm looking at a market structure fibonacci retracement from the dominant low to the dominant high (690 to 1314) and expecting at least a 50% retrace from where we are now. Stop loss is pretty wide righ tnow... risking 5.5% for a potential 18% payout. If we start to get into profit, I will move that stop loss down, especially if we break .01150
I'll be looking for potential bounce zones at our daily moving averages. Shown are 25/50/100/200 as green/orange/yellow/red. By the time we get to our 50% retracement, I would expect the 100/200 to get close to there. Looking at about a week or two to reach that target. Maybe less depending on how quick things decide to move.
Trade safely friends!
<3 -CE-
Litecoin has a nice run... I mean, this went over 100% from the lows thanks to BTC going on a run as well.
Not much to see here other than clear divergence on numerous fronts: Higher high on price, lower high on oscillators and volume died off on that last run up to the higher price as well.
I'm looking at a market structure fibonacci retracement from the dominant low to the dominant high (690 to 1314) and expecting at least a 50% retrace from where we are now. Stop loss is pretty wide righ tnow... risking 5.5% for a potential 18% payout. If we start to get into profit, I will move that stop loss down, especially if we break .01150
I'll be looking for potential bounce zones at our daily moving averages. Shown are 25/50/100/200 as green/orange/yellow/red. By the time we get to our 50% retracement, I would expect the 100/200 to get close to there. Looking at about a week or two to reach that target. Maybe less depending on how quick things decide to move.
Trade safely friends!
<3 -CE-