Hi Community,
I am following up from my previous idea and I am trying to make sense of supply & demand zones, and volume. I am not an expert in this at all, so I'd appreciate your thoughts.
The 4H chart shows decreasing volume and an RSI in overbought zone. What I can't make my mind up is whether the volume is suggesting a slight decrease to retest the previous resistance at 186$, or if we have exhausted supply. In the latter case, we would be looking at a stronger retracement to the 180$ area, or even down to 165$.
The 1H chart shows a bearish divergence on the RSI, and decreasing volume.
However, the 1D chart shows a wonderful cup & handle formation with price just breaking the entry point that promises well in the medium-longer term.
So, what do you think Litecoin will do next? And what are your thoughts on the supply & demand + volume considerations?
Still learning here, so any constructive feedback and positive vibes are welcome.
Thank you and Happy trading!
------------------------------------------------------
Needless to say, this is not financial advice!
I am following up from my previous idea and I am trying to make sense of supply & demand zones, and volume. I am not an expert in this at all, so I'd appreciate your thoughts.
The 4H chart shows decreasing volume and an RSI in overbought zone. What I can't make my mind up is whether the volume is suggesting a slight decrease to retest the previous resistance at 186$, or if we have exhausted supply. In the latter case, we would be looking at a stronger retracement to the 180$ area, or even down to 165$.
The 1H chart shows a bearish divergence on the RSI, and decreasing volume.
However, the 1D chart shows a wonderful cup & handle formation with price just breaking the entry point that promises well in the medium-longer term.
So, what do you think Litecoin will do next? And what are your thoughts on the supply & demand + volume considerations?
Still learning here, so any constructive feedback and positive vibes are welcome.
Thank you and Happy trading!
------------------------------------------------------
Needless to say, this is not financial advice!
