LTCUSD Technical Analysis 4 hour - Wait for confirmation to buy
Updated
Hi there.
Current state:
Out - This means we have USD in hand, waiting to enter trade.
Waiting for a trend change confirmation. Nothing so far.
Indicators/Charts analysis:
Stop Loss:
$44.46. May move to $43.70 once renko confirms new red brick.
Alarms:
Price crossing $43 up. This will act as an early warning that trend may be reversing and opportunity to enter trade may be approaching.
Conclusion:
Hold. Do not enter trade.
Continue to monitor market until trend reverses and trade opportunity presents itself.
Price may still go down to $40.39
If you like this, you can donate your LTC to:
LZKza6vBcBnkfaDMHYXXUd6ud8Jf87Lfm3
Any donations will help me keep posting analysis. Also, don't forget to share your comments!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**
Current state:
Out - This means we have USD in hand, waiting to enter trade.
Waiting for a trend change confirmation. Nothing so far.
Indicators/Charts analysis:
- RSI is in the oversold area.
- Renko (size 0.74) shows down trend still continues. A new brick is currently forming (light red brick)
- Price is still moving below EMAs (12, 26 and further)
- Candle sticks show a down trend for the last 8/4h periods
- Stoch RSI has remained approximately at same level for a few periods.
- Awesome Indicator not approaching 0 yet. No clear control of bulls vs. bears
- Stoch RSI and RSI in renko at at oversold conditions. However these tend to stay there longer than with candle stick charts.
Stop Loss:
$44.46. May move to $43.70 once renko confirms new red brick.
Alarms:
Price crossing $43 up. This will act as an early warning that trend may be reversing and opportunity to enter trade may be approaching.
Conclusion:
Hold. Do not enter trade.
Continue to monitor market until trend reverses and trade opportunity presents itself.
Price may still go down to $40.39
If you like this, you can donate your LTC to:
LZKza6vBcBnkfaDMHYXXUd6ud8Jf87Lfm3
Any donations will help me keep posting analysis. Also, don't forget to share your comments!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**
Note
Updated Stop loss to: 43.78
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