Litecoin trading cryptocurrency market update for Feb 27, 2019

Mar 1, 2019 --- Altcoins

Litecoin trading cryptocurrency market update for Feb 27, 2019

Daily Chart

Litecoin v’s Bitcoin is starting to bounce slowly back to the upside now testing the 0.0xx level on neutral SCMR signals and still mixed candle formations which is sparking the possibility of a double bottom in the upper demand area which would portent higher prices moving forward, at least back up to the top of the current consolidation range in the mid to high 0.0xx's. Also note that the lower EMA continues to act as support despite the now falling upper EMA, all of the longer-term moving averages are still picking up steam to the upside, multiple levels of strong dynamic support continue to build below the market, the volume indications remain encouraging, and the Ichimoku Cloud is quickly growing more bullish out in front of the market, so we're issuing a new VST ProTrade to try to catch a potential bounce. That said, the momentum oscillators have more recharging to do and there is a lot of downside below the 0.0xxx regional low so we'll keep sizing small, stops tight, and targets low until further notice.

Short term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.0xxx - 0.0xxx area with a stop just below 0.0xxx and a target of 0.0xxx.

Medium term Members ProTrade - We will consider a LONG position on a continuation down to the 0.0xxx - 0.0xxx with a stop just below 0.0xxx and a target of 0.0xxx.

 

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