Sherem
Short

LTC -I identified this recent top - Now, the slow march down LTC

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
The thing to realize here is we are in a bear market. There are few reasons to say that we are at the bottom at this point.

Technically here are some major bearish indicators on the daily chart:
1. RSI is negative and no signs of divergence or bottoming
2. Overall down trend.
3. MACD just turned down and going into negative territory

On the smaller time frames, things are starting to fall in line for a down move which means we will get a further push to the down side. As i am writing this, LTC is breaking this short term trend line , which would indicate a fall to at least 167 area.

At this point, I will be playing any bounces as they move down. I would look for a minor bounce at these recent lows at 167 and serious support at the 150 area. I will not be putting buys in at 167 as I feel the bounce off of there will be minimal. I will be looking to put buys in just above 150 and in the 110-120 area.

I have outlined what I think is the highest probability move at this point. As always, MAKE SURE YOU MARTINGALE your buys. If this thing starts running you want to be able to have options to buy in lower. Read up on the strategy if you have not already. We already made some scalps while this thing has been moving down.

Don't stress, don't use leverage and pick your points!!

-Sherem

My call identifying the LTC top -

Longer post identifying the buy zones -
Trade active: LTC 1st martingale active from 163. Sell target in place in the low 180's. Keep in mind, this thing could push down further and fast. Other buys still in place down to the 110-120 area.
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