LTC/USD Trading Ideas: 08/21
Aug / 21 / 2019 16:05 PM Wednesday
Here is a daily chart LTC against USD
Litecoin's turn to get the 'death cross'. TRX, for example, was under the 30-day MA more than a month when it happened. Of course, it doesn't mean that is going to happen with LTC but the next step is $50 area.
Indicators contradict each other. RSI stays in the bearish zone, but MACD shows a divergence.
On the 4 hr scale, the situation is different - MACD made a new low and RSI can't hold above the 50th level. In general, it looks bearish but if the price reached and held the $80 level everything will change.
The market depth shows 'Bids' advantage and it is a familiar situation for the last 2 weeks when MDR contradicts the picture on the chart
Weekly MDR also shows 'Bids' advantage in the long period of time but the tendency is negative.
Order books in numbers. And again four from top-six exchanges by liquidity where you can trade the asset have 'Asks' advantage.
If you are bullish
Entry - $80, stop - $70, take - $92
If you are bearish
Entry -$77 (a false breakout will be perfect ), stop - $82, take - $63
And just one more scary thing...
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