Hello there, this is our view on LTCUSD, enjoy!
Analysis:
-On chart:
2 main trendlines, one from the ath which touches the ytd and the local highs, price is not likely to break these lines until btc will make another strong movement. More lines form a small bear flag (continuation pattern), which it seems we're able to break up if enough volume is provided. I also drew a pitchfork that seems to work, so we're probably getting one more time up there (even if middle line will probably resist any legs up). Current situation isn't very bullish because we have a confirmed death cross on standard moving averages 50-200; smaller lenghts have formed new golden crosses though. Exponential moving averages are even more bearish because they didn't only form a death cross on big lenghts, but also many golden crosses on smaller ones were negated in a few candles: this is extremely bearish, but most of them are literally on the price, so they aren't resisting neither supporting very much. Of course a retest of weighted moving average 200 is needed, so this is my hope for a mini rally. Mid bollinger band is still supporting the price; also width is very small, prove that a consistent move could happen very soon. An interesting thing is that ichimoku cloud is extremely large, so it may seem bearish, but in term of bulls it's OK like that, because we could enter it and take a little rest before dumping badly; a bullish move is expected anyway if we entered the cloud.
-Technicals:
Fisher transform as many oscillators it's taking its retest of a bull divergence with price. In fact chaikin, money flow, rsi, stoch (14,3,3) and ultimate are growing from oversold. Stochastic is still bearish on higher smoothies. Macd and awesome also formed a bull divergence with price, even if macd states bearish momentum; awesome is still neutral after the recover. Small F accumulation after the dump, it does make sense like this even if I was expecting a little more; nevermind, it is bullish too.
Strategy:
We're very active on this market nowadays, that's why we are putting 2 different strategies on this trade. This is a good opportunity we believe if you heard, so you might try them all as well.
1. {SCALP}Entry (short): 60.96 - 61.50 - 62.49
Target (short-term): 59.79 - 58.10 - 55.15
Stoploss: 62.70
Risk/reward: 2.74
2.Entry (long): 59.29 - 58.10 - 55.15
Target (short-term): 62.49 - 68.21 - 75.44
Stoploss: 51.60
Risk/reward: 2.19
Disclaimer: this is not a trading advice as it could seem like, we're just enjoying ourselves and spending our time onto this activity. Don't ever trade money you can't afford to lose. Don't do such a trade if you're not self-conscious about what you're doing. If cryptocurrencies are not regulated in your country use them only for speculative interests until they'll be. Feel free to ask us every question you have.
Trade safe, Anlvis.
Analysis:
-On chart:
2 main trendlines, one from the ath which touches the ytd and the local highs, price is not likely to break these lines until btc will make another strong movement. More lines form a small bear flag (continuation pattern), which it seems we're able to break up if enough volume is provided. I also drew a pitchfork that seems to work, so we're probably getting one more time up there (even if middle line will probably resist any legs up). Current situation isn't very bullish because we have a confirmed death cross on standard moving averages 50-200; smaller lenghts have formed new golden crosses though. Exponential moving averages are even more bearish because they didn't only form a death cross on big lenghts, but also many golden crosses on smaller ones were negated in a few candles: this is extremely bearish, but most of them are literally on the price, so they aren't resisting neither supporting very much. Of course a retest of weighted moving average 200 is needed, so this is my hope for a mini rally. Mid bollinger band is still supporting the price; also width is very small, prove that a consistent move could happen very soon. An interesting thing is that ichimoku cloud is extremely large, so it may seem bearish, but in term of bulls it's OK like that, because we could enter it and take a little rest before dumping badly; a bullish move is expected anyway if we entered the cloud.
-Technicals:
Fisher transform as many oscillators it's taking its retest of a bull divergence with price. In fact chaikin, money flow, rsi, stoch (14,3,3) and ultimate are growing from oversold. Stochastic is still bearish on higher smoothies. Macd and awesome also formed a bull divergence with price, even if macd states bearish momentum; awesome is still neutral after the recover. Small F accumulation after the dump, it does make sense like this even if I was expecting a little more; nevermind, it is bullish too.
Strategy:
We're very active on this market nowadays, that's why we are putting 2 different strategies on this trade. This is a good opportunity we believe if you heard, so you might try them all as well.
1. {SCALP}Entry (short): 60.96 - 61.50 - 62.49
Target (short-term): 59.79 - 58.10 - 55.15
Stoploss: 62.70
Risk/reward: 2.74
2.Entry (long): 59.29 - 58.10 - 55.15
Target (short-term): 62.49 - 68.21 - 75.44
Stoploss: 51.60
Risk/reward: 2.19
Disclaimer: this is not a trading advice as it could seem like, we're just enjoying ourselves and spending our time onto this activity. Don't ever trade money you can't afford to lose. Don't do such a trade if you're not self-conscious about what you're doing. If cryptocurrencies are not regulated in your country use them only for speculative interests until they'll be. Feel free to ask us every question you have.
Trade safe, Anlvis.