Litecoin - Concerning Levels and Shorter Term Play

BITFINEX:LTCUSD   Litecoin / Dollar
Currently the best indicator is bitcoin's price. It is leading the market and is giving us valuable hints.
Overall the markets are still looking overbought and it is recommend to be careful at this time.
The price is making higher low which is strong sign of price moving higher. But at these levels it is recommended to be extra careful when opening any trades. SO note this is a bit riskier trade than usual.

To see higher prices, then these conditions should be met:
-> Price breaks downtrend line
-> Make higher lows by quickly rejecting them
-> Possible Positive divergence formed by indicators

Don't buy if these conditions are met:
-> Price breaks support level of 245
-> If the price starts falling like a sharp knife (wait for consolidation)

New trading opportunities should be searched if the price breaks down and ideal reversal zones can be found from these support levels. Especially .382 been great friend of reversals.

Trading information:
Buy: Above 307 level
Stop-loss: 228 level
Profit Target: Around 349 level
Also note partial of the profit should be taken if the price is indicating bearish signals.

Things to Remember:
-> Stop-loss orders are strongly recommended.
-> Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
-> Do your homework before investing.

Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.

If you need any help with trading or recommendations where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!

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Thanks for sharing my brother.
Thanks man.
Thanks for your effort! Really appreciate it!
Oh, and - stop loss is probably THE DUBMEST THING EVER!! stay small OR STAY OUT!!
Lol!! This is the biggest bunch of gibberish!!! If you think it's going higher - buy it!! If you think it's going lower - sell it or wait to buy it!! ...wait to buy it AFTER it goes above 307, smh...idiot
what do you think about this level ?
LTC chart really doesn't matter why would you even look at it?
Anything I look at matters BTC is ruinning everything. I was staring at a coin about to break my buy limit 99.9% then BTC starts crashign and brings it down with it.
Praying for the day the whole market doesn't depend on this thing.
Risk to reward doesn't look great I wouldn't take that trade :D
+1 Antworten
@MrRenev, Indeed, all the charts are a copy of BTS/USD. BTC is expected to crush to 8K, so LTC is expected to fall in the same proportion.
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