LTC/BTC 4 HOUR - SHORT @.0195 ideas - coinbase
LTC/BTC ON 1 hour is approaching super high overbought levels, this indicates a dip is imminent in the next few 1h candles.
-The only thing that negates this is a bullish tk cross on the 1 hour, about 2 candles back.
This information tells me that it could very well be redlining and moving upward until stoch rsi on 4 hour reaches 90-100
At that point perhaps enter a short...or enter a small short on the 1 hour.
-1hr - stoch rsi ~100 (overbought) - sell or short signal
-1hr - rsi ~59 - approaching overbought - neutral for now
4 hour
-stoch rsi says it can climb higher
-rsi - ~54.34
-50-200 is still bullish
-tk cross is still bullish
-price is in cloud
-4 hour says this thing can certainly pump a bit higher, but i seriously doubt it will be reaching ath as nothing significant has occurred in the news.
-caution flags: price has touched top of cloud and could very well crash on 4 hour to 200 EMA at .01658 btc/ltc
-if there is a solid candle where price falls out of cloud on 4 hour (~.0183 btc/eth), then there is a high likelihood it will crash toward and a bit past 200 ema on 4 hour.
My proprietary technical indicator says litecoin is going sideways and slightly downward, this trade carries medium-high risk if you go long.
-Lowest risk would be to set a short ideally around .0197 to .02., but for shits and giggles i'm just going to enter a small short at .0195
-since we have recent bullish t-k-cross on 1 hour, i think 4 hour is going to pump. we will see at least 1, probably 2-4, maybe even more green 4h candles, RSI will hit over 70 and stoch rsi will hit 93-98+,then a sell off.
Make sure you have your stops in. I'm publishing this idea because I'm bored and I could very well be wrong.
-The only thing that negates this is a bullish tk cross on the 1 hour, about 2 candles back.
This information tells me that it could very well be redlining and moving upward until stoch rsi on 4 hour reaches 90-100
At that point perhaps enter a short...or enter a small short on the 1 hour.
-1hr - stoch rsi ~100 (overbought) - sell or short signal
-1hr - rsi ~59 - approaching overbought - neutral for now
4 hour
-stoch rsi says it can climb higher
-rsi - ~54.34
-50-200 is still bullish
-tk cross is still bullish
-price is in cloud
-4 hour says this thing can certainly pump a bit higher, but i seriously doubt it will be reaching ath as nothing significant has occurred in the news.
-caution flags: price has touched top of cloud and could very well crash on 4 hour to 200 EMA at .01658 btc/ltc
-if there is a solid candle where price falls out of cloud on 4 hour (~.0183 btc/eth), then there is a high likelihood it will crash toward and a bit past 200 ema on 4 hour.
My proprietary technical indicator says litecoin is going sideways and slightly downward, this trade carries medium-high risk if you go long.
-Lowest risk would be to set a short ideally around .0197 to .02., but for shits and giggles i'm just going to enter a small short at .0195
-since we have recent bullish t-k-cross on 1 hour, i think 4 hour is going to pump. we will see at least 1, probably 2-4, maybe even more green 4h candles, RSI will hit over 70 and stoch rsi will hit 93-98+,then a sell off.
Make sure you have your stops in. I'm publishing this idea because I'm bored and I could very well be wrong.
Comment:
I am closing this trade. 200 ema did not hit, but it did hit .01834btc/ltc. From looking at the cloud and the price movement over the past few days...I would say it has a high likelihood of hitting .0163 btc/eth.
Comment:
oops .0163 btc/ltc
Trade closed manually
or about $41.5 per LTC on coinbase or 40.50 on polo
I think price is going to fall through cloud on 4 hour.