LTCUSDT: Profitable Buy Signal and New Price Channel
The price moved downward in the borders of a descending price channel.
When the price bounced from the support zone formed bu the bottom line of the price channel, SMA200, and 66.50 support level, it gave us a buy opportunity. As you can see, that buy signal could bring a good profit.
Now we have to focus on the price action at the main line of the price channel. If the price bounces, we will see a new downward movement to the local support, at least. If the price breaks the main line, it will be a bullish signal confirming the continuation of the main bullish trend.
Of course, the direction of the market will depend on Bitcoin.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
When the price bounced from the support zone formed bu the bottom line of the price channel, SMA200, and 66.50 support level, it gave us a buy opportunity. As you can see, that buy signal could bring a good profit.
Now we have to focus on the price action at the main line of the price channel. If the price bounces, we will see a new downward movement to the local support, at least. If the price breaks the main line, it will be a bullish signal confirming the continuation of the main bullish trend.
Of course, the direction of the market will depend on Bitcoin.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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