Alright. So on a technical basis, we do have a couple of solid buy signals.
-First of all, we broke our down channel.
-Secondly, we entered back into my bull channel.
So what's my problem, you asked. I don't know just yet? I'm still trying to put my finger on this one. If I had to put something into words here I'd say that we still don't have solid, hot red confirmation (a multiplicity of indicators) confirming bullishness again (at least for Bitcoin, which is who Litecoin has been following as of late). Volume is way down. RSI and MACD are right on the edge. Etc., etc.
If you choose to buy here, caution is advised. Dip your toes in slowly (dollar cost average in, maybe 20% per buy) and have your stops tight. Mine are just below the ascending bottom GREEN trendline for now. I'm extremely cautious here and reluctant to buy until we have more signs corroborating this move up.
-First of all, we broke our down channel.
-Secondly, we entered back into my bull channel.
So what's my problem, you asked. I don't know just yet? I'm still trying to put my finger on this one. If I had to put something into words here I'd say that we still don't have solid, hot red confirmation (a multiplicity of indicators) confirming bullishness again (at least for Bitcoin, which is who Litecoin has been following as of late). Volume is way down. RSI and MACD are right on the edge. Etc., etc.
If you choose to buy here, caution is advised. Dip your toes in slowly (dollar cost average in, maybe 20% per buy) and have your stops tight. Mine are just below the ascending bottom GREEN trendline for now. I'm extremely cautious here and reluctant to buy until we have more signs corroborating this move up.
Stewdamus Trades -
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
