LitecoinLong
LTC: Shows Potential for Upside Reversal
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The MCVF Indicator:
One of the signals for a potential turnaround for Litecoin is the MCVF It has recently provided a "flat buy signal," a term used when the volume-filtered RSI crosses above the standard deviation band while maintaining a flat line. This occurrence is significant because it suggests that the standard deviation is expected to be lower. While this signal is considered less robust than some others, it remains relevant due to the confluence of additional events.
The event we are talking about is the "death-cross", it's also worth mentioning that there are major Fair Value Gaps above the current price (one at ~$72 and one at $81)
What about the death-cross?
The death cross, a technical term used in trading, occurs when the short-term moving average (in this case, the 50-day EMA) crosses below the long-term moving average (the 100-day EMA). This bearish crossover often suggests a potential trend reversal in the short term, before the trend continues. Let me give you an example, let's take BTC in may-june 2021:
This often happens due to shorts getting trapped because of primitive trading (people who simply take trades based of simple crossovers)
Disclaimer
Please exercise caution and consider other fundamental and market factors before making trading decisions. This isn't something I would recommend anyone to ape into!
There is still a LOT of bearish pressue on BTC, which would invalidate this entire idea!
Please check out the Adaptive MCVF indicator if you want, it's publicly available
One of the signals for a potential turnaround for Litecoin is the MCVF It has recently provided a "flat buy signal," a term used when the volume-filtered RSI crosses above the standard deviation band while maintaining a flat line. This occurrence is significant because it suggests that the standard deviation is expected to be lower. While this signal is considered less robust than some others, it remains relevant due to the confluence of additional events.
The event we are talking about is the "death-cross", it's also worth mentioning that there are major Fair Value Gaps above the current price (one at ~$72 and one at $81)
What about the death-cross?
The death cross, a technical term used in trading, occurs when the short-term moving average (in this case, the 50-day EMA) crosses below the long-term moving average (the 100-day EMA). This bearish crossover often suggests a potential trend reversal in the short term, before the trend continues. Let me give you an example, let's take BTC in may-june 2021:
This often happens due to shorts getting trapped because of primitive trading (people who simply take trades based of simple crossovers)
Disclaimer
Please exercise caution and consider other fundamental and market factors before making trading decisions. This isn't something I would recommend anyone to ape into!
There is still a LOT of bearish pressue on BTC, which would invalidate this entire idea!
Please check out the Adaptive MCVF indicator if you want, it's publicly available
Note
Channel broken, but still in profitObviously LTC isn't outperforming any good coins these times, but the direction is up
Trade fermée: cible de profit atteinte
It broke above the POC and filled the area of controlThat was a 51% profit trade since I uploaded it.
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Telegram:
t.me/ikkeomarfree
I can also pass funded accounts for you!
$50,000 accounts
Just dm my Telegram @IkkeOmar
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