Litecoin dropped 30 % and is setting the BUY zone between 175 and 165. It's possible that Litecoin will begin to work its way back into the 200s from here. A descending wedge could form as pictured above. During this time, corporations will be loading up at every swing low as retail buyers exit trades for a loss.
Anything is possible in this market, but Litecoin is still very much in the midst of a bull run. RSI is key - 4 hour charts could provide buying opportunities anytime RSI is below 40
Anything is possible in this market, but Litecoin is still very much in the midst of a bull run. RSI is key - 4 hour charts could provide buying opportunities anytime RSI is below 40
Trade active
Litecoin has formed a nice reverse head and shoulders. There have been 2 great opportunities to buy around 165, and from here, we would like to see the price stay above the 20 MA.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.