For the past time we have seen a downtrend in LTC. Ever since December since the all time high basically.
If you would like you can draw a flag on the chart and such (but lets skip that for now).
What I have done here is drawn the potential Buy and sell zones after having analyzed LTC since weeks back. We have no entered what I would deem to be a good buy area when it comes to ltc. I am not expecting LTC to fall below 100$ (according to my drawing it states about 110) but lets round that off to 100$.
I have also drawn the area for possible sell of when it comes to LTC (if we reach those levels withing a short time). HOWEVER, do note that if we manage to SURPASS that sell zone, the area about it turns into a potential buying zone. If it does pass it, we no longer need to worry about selling at those levels again and the chart will require to be re-analyzed for further instructions with what to do.
In the chart I have added normalized volume to see the buying/selling for certain areas. You may edit the time on the chart. However, what we can notice is that there is a diminishing volume on red bars in the chart (not as much selling pressure as before) and a high level of accumulation has occured at the bottoms during the past months.
If we have an "up-thrust" to start a bullish pattern we might be expecting a bull run. But lets not go too deep into my analysis right now. Just dont forget to always analyze the volume when it comes to your charts. Using indicators is a good thing, but if you dont understand the underlying market there is no point in trading!
If anything is unclear or if you feel anything need to be explained better please feel free to comment and Ill try to help out and teach you some of the most simple terms you need to know when it comes to trading :)
Have a great day!
Dont forget to leave a comment and like if you enjoy my analysis :) If you want to see future charts you can follow me, I will post more charts with explanations!
// Kingpersia
If you would like you can draw a flag on the chart and such (but lets skip that for now).
What I have done here is drawn the potential Buy and sell zones after having analyzed LTC since weeks back. We have no entered what I would deem to be a good buy area when it comes to ltc. I am not expecting LTC to fall below 100$ (according to my drawing it states about 110) but lets round that off to 100$.
I have also drawn the area for possible sell of when it comes to LTC (if we reach those levels withing a short time). HOWEVER, do note that if we manage to SURPASS that sell zone, the area about it turns into a potential buying zone. If it does pass it, we no longer need to worry about selling at those levels again and the chart will require to be re-analyzed for further instructions with what to do.
In the chart I have added normalized volume to see the buying/selling for certain areas. You may edit the time on the chart. However, what we can notice is that there is a diminishing volume on red bars in the chart (not as much selling pressure as before) and a high level of accumulation has occured at the bottoms during the past months.
If we have an "up-thrust" to start a bullish pattern we might be expecting a bull run. But lets not go too deep into my analysis right now. Just dont forget to always analyze the volume when it comes to your charts. Using indicators is a good thing, but if you dont understand the underlying market there is no point in trading!
If anything is unclear or if you feel anything need to be explained better please feel free to comment and Ill try to help out and teach you some of the most simple terms you need to know when it comes to trading :)
Have a great day!
Dont forget to leave a comment and like if you enjoy my analysis :) If you want to see future charts you can follow me, I will post more charts with explanations!
// Kingpersia