LTCUSD potential LONG idea

Updated

Would i dare to say? But a potential long opportunity is presenting itself in this very bearish environment..

A summation

We crossed the 200 MA to the downside which is a very bearish indicator
RSI is oversold - below 20
Important resitance levels around 110 - 90 from FIBO level 0.236 and 'long term' (in terms off crypto) trend lines
MACD might be bottoming

There is no assurance we will see the 100-90 level or breefly? but if we fail the important levels we can go lower ofcourse.

Also wanted to share this simple chart :)

Note

It will be a super bullish sign If bitcoin can go aove 7200 and stay above it. It will carry all other crypto's with it and a be the beginning of a possible bull market.

There is a major support for bitcoin around 6800 and it did break its long term downtrend. The only thing we now need is CONFIRMATION.

GL

Note

Review: It did prove to be a good analysis. Price improved about 50%, reaching the top off my channel.

leamese

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