LTCUSDT
LTCUSDT is an interesting one for me at the moment. Although we’ve been in a downtrend for some time, we have mostly remained above the 50% channel line other than a few large dumps along the way. This is usually a bullish sign.
The other thing to note is that we are currently trending sideways after a long bearish period - this also usually indicates a change in momentum could be on it’s way.
If we can get a break above resistance that also closes us outside of this channel, creating a HH, I will consider opening a long as we have already created a HL so if this follows a HH this will give me confidence that we have found the bottom for now.
LTCUSDT is an interesting one for me at the moment. Although we’ve been in a downtrend for some time, we have mostly remained above the 50% channel line other than a few large dumps along the way. This is usually a bullish sign.
The other thing to note is that we are currently trending sideways after a long bearish period - this also usually indicates a change in momentum could be on it’s way.
If we can get a break above resistance that also closes us outside of this channel, creating a HH, I will consider opening a long as we have already created a HL so if this follows a HH this will give me confidence that we have found the bottom for now.