Going down down baby, your street with LTC! (PT. 2)

COINBASE:LTCBTC   Litecoin / Bitcoin
Good Afternoon.

Just wanted to put out a quick snapshot on LTCBTC .

Currently, looking at the DMI, the -DM and the +DM have touched and tried to cross 3 times recently, but it has failed to do so signaling failed attempts to break out. All the while the ADX has stayed relatively low showing there is not really a trend going on here. If you look on the RSI we can see we are producing lower lows and still trending in an upward motion while the price continues to drop. This can signal a bullish divergence when the RSI is holding above it's prior low while the price is moving to new lows. These tend to be more robust after an oversold reading which is what we saw on 3/2 on the RSI chart.

SO, by looking and analyzing the DMI and the RSI we can see that even though the price is dropping at the moment we are still showing signs of strength, and our support line is holding.

IF LTCBTC were to fall below this support line we could head south quick, but if we hold here we could see a nice bounce back up to the next support/ resistance line of around .0195. Also, keep an eye on the RSI , if we fall below our most recent low or below the trend line this could be a bearish signal as well.

If you wanted to take the risk you could buy with setting a stop loss just below the support line. However, waiting to see if we can break above the support or below to confirm which direction we are headed is ultimately be the best move for now.

Any and all comments are welcome!

Happy Trading :)

Much Love


***This information is not a recommendation to buy or sell***
a break down happened
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out