LTC/USDT Binance strategy - price drop to the nearest trendline
Let's consider two timeframes: a 1-day time frame and a 4-hour time frame to understand the long-term picture of an asset's movement.
In the daily timeframe below, the (green) long term targets are marked to capture profits from the Litecoin movement in a bullish trend. The white color indicates the current resistance zone of the asset. In the last few days, LTC has tried to break out twice, but so far has been unsuccessful. A confident crossing of this mark can be considered a clear signal to buy a coin (especially in case of a long-term purchase). Also, in 2020, LTC was undergoing the accumulation phase for several months in a row, which can now be considered a strong level of support in case of a fall.
Let's move on to the 4-hour schedule. Green marks indicate the main trend lines, and white lines indicate resistance and support levels. To open a position, you can focus on the RSI, MACD, and moving average indicators. The following indicators can support opening of a short position at the moment:
The coin may rebound from the above levels, so you can use the GRID Bot by 3Commas to maximize your profits. On the main page of your profile, go to the GRID Bot section. Select the USDT market and the LTC/USDT pair. In the bot settings section, go to Manual strategy.
Enter the following settings:
In the daily timeframe below, the (green) long term targets are marked to capture profits from the Litecoin movement in a bullish trend. The white color indicates the current resistance zone of the asset. In the last few days, LTC has tried to break out twice, but so far has been unsuccessful. A confident crossing of this mark can be considered a clear signal to buy a coin (especially in case of a long-term purchase). Also, in 2020, LTC was undergoing the accumulation phase for several months in a row, which can now be considered a strong level of support in case of a fall.
Let's move on to the 4-hour schedule. Green marks indicate the main trend lines, and white lines indicate resistance and support levels. To open a position, you can focus on the RSI, MACD, and moving average indicators. The following indicators can support opening of a short position at the moment:
- RSI is out of the overbought zone;
- The MACD histogram crosses the Moving Average in an upwards direction;
- The chart crosses the MA in an upwards direction.
The coin may rebound from the above levels, so you can use the GRID Bot by 3Commas to maximize your profits. On the main page of your profile, go to the GRID Bot section. Select the USDT market and the LTC/USDT pair. In the bot settings section, go to Manual strategy.
Enter the following settings:
- Upper limit price: 94.02;
- Lower limit price: 64.40;
- Grid quantity: 10;
- Quantity per grid: The amount in LTC that the bot will buy/sell at each grid. When you enter this value, the bot will display the required minimum amount of funds in your account.