Preparing for the next uptrend with a nice RSI divergence from the on the 1 hour trend. The movement of Litecoin have been rather predictable so far with a triple bottom rise on 16th July to a H&S formation collapse on 19th July.
It is now clear that $8.453 and $8.52 acts as a strong support for the current movement and it is unlikely that that will be violated within the next few days. If should that holds further, there will be a rally up to $8.8.
One piece of advice as always. Have multiple entries to the price you want and reverse engineer from the buying price on how it is going to get there.
As on this post, I have defined 8.5 and 7.8 as the buying area.
If more people on the trollbox/chatbox expect the price to rise, more whales/institute investors would want to move it to the opposite area so as to get retail investors trapped. And the further it goes, people will start to cut losses by panic selling.
Do not let emotions affect your trading. I wish you all good luck.
As on this post, I have defined 8.5 and 7.8 as the buying area.
If more people on the trollbox/chatbox expect the price to rise, more whales/institute investors would want to move it to the opposite area so as to get retail investors trapped. And the further it goes, people will start to cut losses by panic selling.
Do not let emotions affect your trading. I wish you all good luck.