LTC trend analysis
In the 11/7 article we have mentioned that LTC broke through the daily convergence triangle.
The price rose from the highest price of 61 to the price of 94 and then fell back to the current price of 82
The picture shows the LTC weekly chart,
It can be seen that there is a resistance at the price of 80-83.
The weekly closing price is here and the upper shadow line is formed.
And this is also the high point after LTC recent halfing.
From the weekly level, it is an distribution point.
There is a possibility of backtesting.
The key support below is at the 63-68 price
which is a potential buying price
There are two ways to enter the arena currently
LTC current price is at a key resistance level,
You can enter after breaking through the resistance level and wait for the weekly closes to enter the market after support is formed.
Wait for the price to fall back to the key support 63-68, and wait for the structure to change before entering the market.
The price rose from the highest price of 61 to the price of 94 and then fell back to the current price of 82
The picture shows the LTC weekly chart,
It can be seen that there is a resistance at the price of 80-83.
The weekly closing price is here and the upper shadow line is formed.
And this is also the high point after LTC recent halfing.
From the weekly level, it is an distribution point.
There is a possibility of backtesting.
The key support below is at the 63-68 price
which is a potential buying price
There are two ways to enter the arena currently
LTC current price is at a key resistance level,
You can enter after breaking through the resistance level and wait for the weekly closes to enter the market after support is formed.
Wait for the price to fall back to the key support 63-68, and wait for the structure to change before entering the market.
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