LTCUSD Technical Analysis 4 hour - and the bears have the ball!
Hi there.
Current state:
Still out. That means we have USD on hand. I would get out now while there is time.
There was a slim glimpse of hope today when price rebounded from $30.25 to $35.44 but that just attracted more sellers. We have to be careful not to enter a trade on these swings.
Indicators/Charts analysis:
Stop Loss:
None. I probably won't enter a trade until price moves above 35 (if it ever does again)
Target:
None.
Alarms:
None. Will continue watching the market.
Conclusion:
No buy signal.
I plan on waiting until prices show an indication of moving back up.
There has been quite some swings as the prices continue to drop and lateral swings will get you good, so I rather avoid them and instead enter a trade once the trend is clearly up.
It all seems to point down.
I would get out now while there is time.
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If you like this, you can donate LTC to:
LZKza6vBcBnkfaDMHYXXUd6ud8Jf87Lfm3
Any donations will help me keep posting analysis. Also, don't forget to share your comments!
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**
Current state:
Still out. That means we have USD on hand. I would get out now while there is time.
There was a slim glimpse of hope today when price rebounded from $30.25 to $35.44 but that just attracted more sellers. We have to be careful not to enter a trade on these swings.
Indicators/Charts analysis:
- RSI: leaving the oversold area. This does not look good, since prices has been dropping for a while. This suggests price will continue to drop.
- Stoch RSI: Approaching over bought. Also not good. It is not aligning with the RSI..
- Bollinger Bands: We are at the bottom of the band. No clear sight of moving up yet. On the day time frame we are also out and it appears to be just the beginning of the BB opening.
- EMAs: 12, 26 and 50 are all showing a down trend. No signs of crossing either.
- Awesome Indicator: Bears are still in control (more red bars).
- Volume: Last 24 hour has been around 789,607 LTC. We have not seen such volume in months. This means that the majority of the market players were interested in liquidating their LTC. Obviously not good for the price.
- Renko: Still showing a down trend. Updated brick size to 0.88 to account for recent market volatility.
- Renko RSI/Stock RSI: RSI pointing down, suggesting more down movement. Stock RSI is overbought and pointing down. Also not a good sign, although overbought conditions last a while in renko stoch rsi and rsi indicators.
Stop Loss:
None. I probably won't enter a trade until price moves above 35 (if it ever does again)
Target:
None.
Alarms:
None. Will continue watching the market.
Conclusion:
No buy signal.
I plan on waiting until prices show an indication of moving back up.
There has been quite some swings as the prices continue to drop and lateral swings will get you good, so I rather avoid them and instead enter a trade once the trend is clearly up.
It all seems to point down.
I would get out now while there is time.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
If you like this, you can donate LTC to:
LZKza6vBcBnkfaDMHYXXUd6ud8Jf87Lfm3
Any donations will help me keep posting analysis. Also, don't forget to share your comments!
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**