LTCUSDT Weekly Control Candle
Control Candle for me is a weekly candle that controls the price. As can be seen in the picture, once the price moved up and CLOSED above the previous Control Candle, that is the new control candle. Last 2 weeks, the price couldn't close above or below, which means that that candle is still in control. Price at the moment is at the bottom and looks like finding support. For me, this is the cheapest price you can get if we are in an uptrend.
If I am wrong, this week's Candle will close below the Weekly Candle and the Short/Medium trend turns to Bearish.
Just my view, trying to make things simple.
If I am wrong, this week's Candle will close below the Weekly Candle and the Short/Medium trend turns to Bearish.
Just my view, trying to make things simple.
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