THELOGICALINDIAN - Key Highlights
Litecoin amount may barter higher, and if buyers accomplish in demography control, again there is a adventitious of it testing the 100 simple affective boilerplate (2-hours).
Buy or Sell?
If we aboriginal attending at the lower time anatomy blueprint of Litecoin amount like the 30-mins blueprint (data augment via Bitfinex), again there is a bearish assurance already. Yesterday, I accent a bearish trend line on the aforementioned chart, and acicular that it may act as a hurdle for buyers in the abbreviate term. The amount did ascend higher, but it begin attrition about the aforementioned trend line. There was a downside move after on that took the amount a few credibility lower. There was addition bullish trend band formed on the 30-mins blueprint (data augment via Bitfinex), which was burst during the downside reaction.
However, the downside breach does not attending convincing, and the amount may arch aback higher. On the upside, the bearish trend band may still appear into play, and as continued as the amount is beneath it there are no affairs of gains. The 100 simple affective boilerplate on the 30-min blueprint (data augment via Bitfinex) is additionally accumbent aloof beneath the aforementioned bearish trend line. And, the 50% Fib retracement akin of the aftermost leg bottomward from the $3.10 aerial to $3.00 low is positioned abreast the 100 MA to act as a barrier. Only a breach aloft the accent trend band and attrition breadth could booty the amount college and abate the bearish view. On the downside, if the contempo trend band breach is real, again move appear the $3.00 abutment breadth is accessible in the abbreviate term.
Looking the 2-hours blueprint with the abstracts augment from HitBTC there is a altered account altogether. There was an interesting triangle pattern formed, which was breached by buyers to booty the amount higher. The amount austere the triangle attrition trend band and currently trading abreast the 23.6% Fib retracement akin of the aftermost bead from the $3.40 aerial to $3.072 low. We charge to see if the contempo breach is absolute or apocryphal like the antecedent one.
If the beasts accomplish in demography the amount higher, again the abutting hurdle for them could be about the 100 simple affective boilerplate (4-hours blueprint with abstracts augment from HitBTC). The declared MA is positioned with the 38.2% Fib retracement akin of the aftermost bead from the $3.40 aerial to $3.072 low, which may arrest assets affective ahead.
2-hours MACD – The MACD is in the bullish zone, which is a absolute sign.
2-hours RSI – The RSI is aloft the 50 level, which is addition bullish sign.
Intraday Support Level (HitBTC) – $3.05
Intraday Resistance Level (HitBTC) – $3.20
Charts from Bitfinex and HitBTC; hosted by Trading View
