3 Day Chart
Litecoin v’s Bitcoin has finally found some legitimate support at the flatlined 3-day 200 SMA which sparked a bullish SCMR pivot bar earlier this week and a bullish dragonfly doji today while the medium-term market structure remains firmly intact, all suggesting that we're close to the end of this corrective period. Also note that the 50 and 100 SMA's continue to rise, strong dynamic support is still building below the market, and the Ichimoku Cloud has turned bullish out in front of the market, so the bulls appear to still be in control longer-term, although lackluster momentum and volume indications, falling EMA's, and minor but active dynamic resistance overhead are hinting that more downside is quite possible before the bulls truly return in earnest.
Short term Members ProTrade - We will consider a LONG position on a sell-off down to the 0.00xxx - 0.00xxx with a stop just below 0.00xxx and a target of 0.00xxx.
Medium term Members ProTrade - We will consider a LONG position on a continuation down to the 0.00xxx - 0.00xxx with a stop just below 0.00xxx and a target of 0.00xxx.
Long term Members ProTrade - We will consider a LONG position on a move down to the 0.00xx - 0.00xx area with a stop around 0.000xx and a target of 0.00xx.
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