I've been enjoying the ETH ride, and while I still think it is profitable, there is risk in trading near highs. I am looking for my next move in LTC for a few reasons.
1) Near the support for a long-term support line since the bear market has started.
2) Divergence using the awesome indicator that broke the previous trend line, with twin peaks forming
3) RSI approaching 50 - bullish territory, with divergence
4) Could be completion of wave 2 of the impulse wave
If this setup is looking familiar to you, look to our friend ETH
You may notice it was set up somewhat similar.
1) Near the support for a long-term support line since the bear market has started.
2) Divergence using the awesome indicator that broke the previous trend line, with twin peaks forming
3) RSI approaching 50 - bullish territory, with divergence
4) Could be completion of wave 2 of the impulse wave
If this setup is looking familiar to you, look to our friend ETH
You may notice it was set up somewhat similar.
Note
Bad chart! Here's another view, with an extra perspective. Could this possibly be the channel we ride in?Note
Trading right in the channel as predicted, with stronger divergence. Watch for Awesome Indicator to cross to close the position, but looking strong so far. Not as strong as ETH has been, but there may be a lot of profit being taken in ETH and moving over to the other coins.
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.
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.