THELOGICALINDIAN - Key Highlights
Litecoin amount may abide to barter in a range, but if we attending at the lower time anatomy chart, again there is a adventitious of a accessory break.
Buy with a break?
We sold abounding times Litecoins this accomplished week, and best of the times it paid well. However, I anticipate we can attending for a actual concise buy in Litecoins if a accurate action is satisfied. There is a triangle arrangement on the alternate blueprint (data augment via Bitfinex), which is acceptable to act as a agitator for the abutting move in the abreast term. The amount afresh attempted to barter aloft the triangle attrition trend line, but buyers bootless to authority assets as the amount confused aback lower. However, the amount is aloft the 100 alternate simple affective average (data augment via Bitfinex), which favor buyers.
If there is a breach aloft the triangle attrition trend line, again we may accede affairs in the abbreviate term. However, aloof aloft the triangle aerial trend line, the 76.4% Fib retracement akin of the aftermost leg from the $3.20 aerial to $3.07 low is aligned, which may try to anticipate the upside move. So, we charge to accumulate a abutting eye on the declared fib akin for gains. If there is a abortion to breach the mentioned fib level, again the amount may accelerate aback down. On the upside, the abutting akin of absorption could be about the aftermost beat aerial of $3.20.
On the downside, the 100 alternate simple affective boilerplate (data augment via Bitfinex) may abide to act as a abutment area. A breach beneath it could booty the amount appear the 61.8% Fib retracement akin of the aftermost leg from the $3.00 low to $3.20 high, which additionally coincides with the triangle abutment area. If we attending at the college time anatomy blueprint like the 2-hours blueprint with the abstracts augment from HitBTC, there are a few abrogating signs.
First, the amount is attempting to abutting beneath the 100 simple affective boilerplate (H2). If sellers accomplish in breaking it, again the amount may barter down. Second, there is a bearish trend band formed central a triangle pattern, which is acting as a attrition and preventing gains. It looks like the 50% Fib retracement akin of the aftermost bead from the $3.55 aerial to $3.06 low is additionally in the apperception of buyers.
Only a breach aloft the declared fib akin and the trend band may alarm for a move appear the 61.8% Fib retracement akin of the aftermost bead from the $3.55 aerial to $3.06 low.
Hourly MACD – The MACD is about flat, suggesting alignment moves in the abbreviate term.
Hourly RSI – The RSI is aloof aloft the 50 level, which is a absolute sign.
Intraday Support Level (Bitfinex) – $3.08
Intraday Resistance Level (Bitfinex) – $3.16
Charts from Bitfinex and HitBTC; hosted by Trading View
