A trading opportunity to buy in LTCBTCTechnical analysis:
. LITECOIN/BITCOIN is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 32.
. While the price downtrend in the Daily chart and the RSI is not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.01212 to 0.01157). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.01212)
Ending of entry zone (0.01157)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.01350
TP2= @ 0.01483
TP3= @ 0.01570
TP4= @ 0.01816
TP5= @ 0.01997
TP6= @ 0.02223
TP7= @ 0.02511
TP8= Free
