LTCBTC Wyckoff distribution
LTC broke down from it's 0.618 fib, and has now found support on 0.768.
Its oscillation with BTC has graphed a wyckoff distribution cycle, which currently will be turning to throwback for a retest of 0.01 BTC.
Several market signals point to a local bottom having been reached. CMF is showing bullish divergence on the daily for LTCBTC, and BTC has reached its channel top and is showing bearish divergence.
Long Target: 0.01 BTC
Long SL: 0.007 BTC
Short Target: 0.005 BTC
This is my personal analysis and should be taken as such. I'll update this Idea as the trade goes forward.
Hope you enjoyed and Happy trading!
Its oscillation with BTC has graphed a wyckoff distribution cycle, which currently will be turning to throwback for a retest of 0.01 BTC.
Several market signals point to a local bottom having been reached. CMF is showing bullish divergence on the daily for LTCBTC, and BTC has reached its channel top and is showing bearish divergence.
Long Target: 0.01 BTC
Long SL: 0.007 BTC
Short Target: 0.005 BTC
This is my personal analysis and should be taken as such. I'll update this Idea as the trade goes forward.
Hope you enjoyed and Happy trading!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.