Despite LTCUSD is currently showing a H&S pattern, LTC has lately proven to be a safe heaven when BTCUSD pair is heading south.
Under current BTC expectations, a divergence observed in the 2H chart suggest a change in the pattern.
This could lead us to range market conditions or bullish divergence.
Also, on the 1H chart, price is over MA20, MA50, MA100 and MA20 about to cross over MA50.
Stop-buy orders can be placed over current resistance level with immediate target at 44, and considering the next resistance level in the 45-48 area. Stop-loss at 40.9 will define Risk/Reward Ratio of 2.
Of course these days market is very volatile due to Segwit. Check indicators before placing your order
Under current BTC expectations, a divergence observed in the 2H chart suggest a change in the pattern.
This could lead us to range market conditions or bullish divergence.
Also, on the 1H chart, price is over MA20, MA50, MA100 and MA20 about to cross over MA50.
Stop-buy orders can be placed over current resistance level with immediate target at 44, and considering the next resistance level in the 45-48 area. Stop-loss at 40.9 will define Risk/Reward Ratio of 2.
Of course these days market is very volatile due to Segwit. Check indicators before placing your order
Trade active:
Price about to reach Stop-buy conditions, after downtrend break. Still bullish movement was too rapid. Placing tight stop-loss.
Order cancelled:
Short-term trade, TP not reached before 8/1