LTCUSDT: Detailed analysis;Long and short term analysis (part 2)
Hey mates!
I hope you are here reading the 2nd part of my previous post regarding the analysis of LTCUSDT chart.
Now, I would like to go into the details of the Daily time frame.
Time frame: Daily
The most alerting indicator is RSI! If RSI fails to surpass the 70 level, then we would expect a clear divergence =, and consequently, a fall back of the price. This sounds logical since price would need a retracement for its further upward movement.
Also, other indicators, such as, Momentum, MACD, Money Flow Indicator (MFI) are in EXTREMELY BOUGHT region!
More importantly, Bollinger Bands are unusually far apart which indicates the end of uptrend for now!
I would expect a retracement to somewhere between 105-95 region.
Conclusion: Bearish in short term (retracement)
I hope you are here reading the 2nd part of my previous post regarding the analysis of LTCUSDT chart.
Now, I would like to go into the details of the Daily time frame.
Time frame: Daily
The most alerting indicator is RSI! If RSI fails to surpass the 70 level, then we would expect a clear divergence =, and consequently, a fall back of the price. This sounds logical since price would need a retracement for its further upward movement.
Also, other indicators, such as, Momentum, MACD, Money Flow Indicator (MFI) are in EXTREMELY BOUGHT region!
More importantly, Bollinger Bands are unusually far apart which indicates the end of uptrend for now!
I would expect a retracement to somewhere between 105-95 region.
Conclusion: Bearish in short term (retracement)
Trade closed: target reached
The price has been corrected as anticipated.
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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.
Related publications
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.