LTCUSD Technical Analysis 4 hour
As you can see we are still on a bearish trend.
No clear reversal indication.
I would wait until price rises above 51.40 to consider entering a trade.
Again, confirm renko trend up with at least 2 bricks. Brick size .74
Look at Awesome Indicator too. You should look for it crossing the 0 line on the way up. You may buy before it crosses but trend must be towards the 0 line.
Consider EMA 12 and EMA26. These 2 should also start closing in.
Be careful because immediate support of 48.84 was breached earlier today, so there is a good chance of a continuation down.
Patience. Remember we are looking to make money. Don't care how many litecoins you accumulate. If at the end the price goes down to 10, or even less, who cares how many LTCs you have. On the other hand if you have USD and that keeps going up, then you are doing well!
No clear reversal indication.
I would wait until price rises above 51.40 to consider entering a trade.
Again, confirm renko trend up with at least 2 bricks. Brick size .74
Look at Awesome Indicator too. You should look for it crossing the 0 line on the way up. You may buy before it crosses but trend must be towards the 0 line.
Consider EMA 12 and EMA26. These 2 should also start closing in.
Be careful because immediate support of 48.84 was breached earlier today, so there is a good chance of a continuation down.
Patience. Remember we are looking to make money. Don't care how many litecoins you accumulate. If at the end the price goes down to 10, or even less, who cares how many LTCs you have. On the other hand if you have USD and that keeps going up, then you are doing well!
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