Here is a long trade which I could catch yesterday. The price bounced from the support zone formed by SMA200 and 65$ support. RSI confirmed the price reversal. MACD histogram confirmed the price reversal as well. Now MACD is supporting an upward movement.
The breakout above the local swing high will give another solid bullish signal and confirmed a double bottom as a trend reversal pattern.
What about you? Did you use the reversal for buying or this coin isn't interesting for you?
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Komentarz
⋅
You can fix at least the part of the profit and move your stop orders to the breakeven.
Interesting analysis and watching with interest. I do see some short term upward movement (but not to your suggested targets) but for the downside to resume and fall lower. Key areas are mid 15k and possibly lower to $13 - 12K range...
Great work - I enjoy your analysis!
pedro17
⋅
@catalystcw, LTC to 13-12k..sweet ima bazzilionaire again!!😜
catalystcw
⋅
@pedro17, haha - I commented on the wrong chart - too many tabs open [doh]