Litecoin - Descending Channel. Buyers Getting Back In The Game?

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Price of Litecoin quickly rejected strong support level area formed by MA100 & 144 Support Level . When the price did this, it is indicating of possible trend reversal and if you look at the long wicks (known as shadows of candlestick as well), it is showing that buyers are getting more control over the price. Histogram of MACD is support upward movement by showing positive divergence. Also StochRSI supports upward movement. Buy orders should be set above swing high with stop-loss order below downtrend line and support level at 120 level.
Do not buy too early because you might end up holding and it is painful journey to go with. Only trade from breakouts with confirmed trend reversals.
Just a reminder, always set a target, take initial investment and left rest of the amount for the longer run.

If you need any help with trading or recommendations 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.



good work, captain XD
+1 Reply
yarr haconghoan89
@haconghoan89, Join the crew and see the world through eyes of a pirate!
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