Direction: Up Or Down
Updated
Pair: LTC/BTC
Time frame: 4H
Okay, so we can see that I have drawn a trend channel that goes downwards. The price has been trying to break above this line twice already and is near the top edge the channel. There, it is sitting pretty stable at the moment without any volume. A close underneath the current price will send it to the other side of the channel, possibly between 0.382 and X mark. In case of a bullish run then the target would be around the green exclamation mark. On the chart, we can also see that indicators RSI and MACD are starting to point downwards which is a bad sign. A retest to support level could happen in that case. If price closes underneath the red dotted line then be aware of the fall. Anyways, we already know all altcoins are linked to BTC so good luck.
Time frame: 4H
Okay, so we can see that I have drawn a trend channel that goes downwards. The price has been trying to break above this line twice already and is near the top edge the channel. There, it is sitting pretty stable at the moment without any volume. A close underneath the current price will send it to the other side of the channel, possibly between 0.382 and X mark. In case of a bullish run then the target would be around the green exclamation mark. On the chart, we can also see that indicators RSI and MACD are starting to point downwards which is a bad sign. A retest to support level could happen in that case. If price closes underneath the red dotted line then be aware of the fall. Anyways, we already know all altcoins are linked to BTC so good luck.
Trade closed: target reached
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