Litecoin market is looking interesting right now as it's trying to find bottom and hits the support zone second time.
This zone is attractive to open new trades and requires a bit patience before doing so. Keep in mind that this area needs to be tested before considering buying in to it.
On the chart you can see a bullish divergence forming and it's matter of the time before it breaks up. Bullish Divergences can build slowly and that's why you need the patience. The price can continue moving further down before recovering. The RSI indicator is supporting upward movement and waiting until MACD gives second confirmation as the blue line needs to cross above of the orange line. When looking in to Divergences you want at least two confirmations from two different indicators, just to get more validity of the divergence. Bullish confirmation level can be found at $141 level as it holds resistance level and where MA100 is laying on the 12h chart. The price needs to break through these levels + downtrend line to indicate any bullishness.
Everything below of $132 is attractive to buy but should traded only with confirmed reversal signals. Remember there is still a slight chance that the price visits the second support zone and without breaking the divergence formation.
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
Stop-loss orders are strongly recommended.
Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
This zone is attractive to open new trades and requires a bit patience before doing so. Keep in mind that this area needs to be tested before considering buying in to it.
On the chart you can see a bullish divergence forming and it's matter of the time before it breaks up. Bullish Divergences can build slowly and that's why you need the patience. The price can continue moving further down before recovering. The RSI indicator is supporting upward movement and waiting until MACD gives second confirmation as the blue line needs to cross above of the orange line. When looking in to Divergences you want at least two confirmations from two different indicators, just to get more validity of the divergence. Bullish confirmation level can be found at $141 level as it holds resistance level and where MA100 is laying on the 12h chart. The price needs to break through these levels + downtrend line to indicate any bullishness.
Everything below of $132 is attractive to buy but should traded only with confirmed reversal signals. Remember there is still a slight chance that the price visits the second support zone and without breaking the divergence formation.
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
Stop-loss orders are strongly recommended.
Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
Do your homework before investing.
DISCLAIMER:
Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
Comment:
waiting until daily closes above of the resistance level above of 137 to add more
