The price reached the downtrend line. We have to watch closely for price action in this zone. A new swing low allows us to draw a new uptrend line. We can consider this line as a signal one. If the market breaks below this uptrend line, probably we'll see downward movement to the previous low. But if the price breaks the downtrend line, it will be a good confirmation of a new upward movement. We can place pending orders for buy at 53.50 level with stop orders below the support zone. These trades will be good for long run. The part of long trades can be closed at 90.00 level.
I dont follow this signal, its kind of risky, i think bitcoin will go down to 2500 nicely.
dinhky2016
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@martin_f, u mean the LTC will be lower? Maybe order to buy at 40 level better? Bitcoin will go down in next these days. So all altcoin will down. Wait it lower to buy. It's not risk
shebotnov
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@dinhky2016, do you have a crystall ball? How do you know BTC will go down in the next days?
goldbug1
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@martin_f, Bingo, they are all in unison, not sure why LTC would break the trend when the others are headed down shortly!
finsIe
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@goldbug1, I bought ether and litecoin at a pretty high price but im not really worried about them because im holding for super long-term. My priority right now is the extra cash reserves that I have on the side. I want to go in and buy more btc, ether & litecoin but I think that we will see another correction soon and that is what I am waiting for before entering with the rest of my cash reserves.. What do you think? End of september?
goldbug1
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@samirabdulsalam, I think the way the market moves, the next week or two, and I am in the same position, and will buy into the last correction in 1/3 positions and then buy the breakout with the final 1/3. Agree entirely if your long term, it doesn't matter where you buy!
MarketMiracleAdvisor
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be careful
my EA indicate that market pressure for LTCUSD are extremely short
limonkabugu111
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i bought. hope it won't down
jbotos
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@CanSanal, oh it's downing alright, then you pull out, then it goes back up, arrrghhh!!!