This is an update to my previous analysis.
The pattern is playing out perfectly... but patterns can't last forever.
Possible entry point is at $120, right below the ichimoku cloud. If it shows signs of going up again, it is possible that LTC will reach $150, then $170-$180. More or less a 40% gain.
Best way to trade this might be to wait for the stochastic RSI to come back above 20.
The pattern is playing out perfectly... but patterns can't last forever.
Possible entry point is at $120, right below the ichimoku cloud. If it shows signs of going up again, it is possible that LTC will reach $150, then $170-$180. More or less a 40% gain.
Best way to trade this might be to wait for the stochastic RSI to come back above 20.
Commentaire:
It seems LTC will aim higher without dipping!
Commentaire:
This is very bad! LTC fell below Ichimoku support, retested it as resistance, and fell again. LTC will probably see more red.
Extra note: This might be the last long entry in the short term if we are to assume that there will be a pre-halving sell-off. Beyond this, the risk of entering long seems too high and I will avoid trading it.