Welcome to this beautiful chart analyze of LTC.
Lets us starts this analyze with the RSI.
As you can see i found a very interesting pattern her.
From march 9 to April 4 you can see that every time the RSI touches 25-26 level we have a bounce to the 53 level where we can find heavy resistance.I also drawled a green line where u can see that the RSI usually has 2 touches on the line before it breaks down.we usually use the 30 and 70 area on the RSI as oversold or overbought but in this case you can see that 25 and 53 are much better to use.
Now lets talk about the MACD.
You can see that everytime i tries to get above the zero point we have a bearish crossover except from march the 20 where i did get above but quickly crossed over to bearish.
this is telling me that the zero point on the MACD is the selling point for now.
On the CHART
we are making a BIG BEARISH FLAG.
we are inside the flag now and trading sideways,yes we did get above the 20 EMA but thats no biggi we are still below the 50 EMA and the resistance line of the flag.
it is totally normal inside a flag that we will touch support and the resistance before we either breakup or down.its consolidating right now and volum as you can see is decreasing all the sign of the flag.
i know that someone things that this is the bottom but we haven’t even made a higher high yet.
So just relax.
My conclusion of this analyze
RSI is looking to break down soon
MACD is getting to the zero point where we lately have seen that it usually turn bearish.
BIG BEAR FLAG
Volume decreasing
Finding resistance on the resistance line of the flag and the 50 EMA
And after comparing this with THE LEGEND @magicpoopcannon analyze on LTC I’m am still bearish
For those who want to trade this you can go SHORT now with a stop loss above the 50 EMA or wait to we brake the support line og the flag.
I am not the legend @magicpoopcannon is, i am just the apprentice and go by the name CRYPTOCHICKO for now.
*200 EMA blue line
*50 EMA orange line
*20 EMA black line
This analyze is not for trading recommendation i am just telling you what i would do.
The flag could brake to the upside this is trading you never now what can happen
Lets us starts this analyze with the RSI.
As you can see i found a very interesting pattern her.
From march 9 to April 4 you can see that every time the RSI touches 25-26 level we have a bounce to the 53 level where we can find heavy resistance.I also drawled a green line where u can see that the RSI usually has 2 touches on the line before it breaks down.we usually use the 30 and 70 area on the RSI as oversold or overbought but in this case you can see that 25 and 53 are much better to use.
Now lets talk about the MACD.
You can see that everytime i tries to get above the zero point we have a bearish crossover except from march the 20 where i did get above but quickly crossed over to bearish.
this is telling me that the zero point on the MACD is the selling point for now.
On the CHART
we are making a BIG BEARISH FLAG.
we are inside the flag now and trading sideways,yes we did get above the 20 EMA but thats no biggi we are still below the 50 EMA and the resistance line of the flag.
it is totally normal inside a flag that we will touch support and the resistance before we either breakup or down.its consolidating right now and volum as you can see is decreasing all the sign of the flag.
i know that someone things that this is the bottom but we haven’t even made a higher high yet.
So just relax.
My conclusion of this analyze
RSI is looking to break down soon
MACD is getting to the zero point where we lately have seen that it usually turn bearish.
BIG BEAR FLAG
Volume decreasing
Finding resistance on the resistance line of the flag and the 50 EMA
And after comparing this with THE LEGEND @magicpoopcannon analyze on LTC I’m am still bearish
For those who want to trade this you can go SHORT now with a stop loss above the 50 EMA or wait to we brake the support line og the flag.
I am not the legend @magicpoopcannon is, i am just the apprentice and go by the name CRYPTOCHICKO for now.
*200 EMA blue line
*50 EMA orange line
*20 EMA black line
This analyze is not for trading recommendation i am just telling you what i would do.
The flag could brake to the upside this is trading you never now what can happen
Comment:
Comment:
The update people :)
