Not financial advice. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk.
Litecoin has a nice run... I mean, this went over 100% from the lows thanks to BTC going on a run as well.
Not much to see here other than clear divergence on numerous fronts: Higher high on price, lower high on oscillators and volume died off on that last run up to the higher price as well.
I'm looking at a market structure fibonacci retracement from the dominant low to the dominant high (690 to 1314) and expecting at least a 50% retrace from where we are now. Stop loss is pretty wide righ tnow... risking 5.5% for a potential 18% payout. If we start to get into profit, I will move that stop loss down, especially if we break .01150
I'll be looking for potential bounce zones at our daily moving averages. Shown are 25/50/100/200 as green/orange/yellow/red. By the time we get to our 50% retracement, I would expect the 100/200 to get close to there. Looking at about a week or two to reach that target. Maybe less depending on how quick things decide to move.
Trade safely friends!
<3 -CE-
Litecoin has a nice run... I mean, this went over 100% from the lows thanks to BTC going on a run as well.
Not much to see here other than clear divergence on numerous fronts: Higher high on price, lower high on oscillators and volume died off on that last run up to the higher price as well.
I'm looking at a market structure fibonacci retracement from the dominant low to the dominant high (690 to 1314) and expecting at least a 50% retrace from where we are now. Stop loss is pretty wide righ tnow... risking 5.5% for a potential 18% payout. If we start to get into profit, I will move that stop loss down, especially if we break .01150
I'll be looking for potential bounce zones at our daily moving averages. Shown are 25/50/100/200 as green/orange/yellow/red. By the time we get to our 50% retracement, I would expect the 100/200 to get close to there. Looking at about a week or two to reach that target. Maybe less depending on how quick things decide to move.
Trade safely friends!
<3 -CE-