Litecoin trading cryptocurrency market update for Jul 31, 2019

Aug 1, 2019 --- Altcoins

Litecoin trading cryptocurrency market update for Jul 31, 2019

 

3 Day Chart

The Litecoin halving is only days away and yet LTCBTC continues to tread water between 0.009 - 0.010 today on a still red SCMR signal and mixed candle formation while short-term market structure remains broken but longer-term structure is still intact (barely), none of which is very convincing therefore more consolidation is likely over the near-term. The mixed state of the moving averages and the stagnant momentum and volume indications are also suggesting more sideways action within the short-term range, hence we'll continue to stay patient until better a better opportunity presents itself (perhaps on a "buy the rumor, sell the news" move after the halving occurs). 

Short term Members ProTrade - No new ProTrade ideas at this time.

Medium term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.00xx - 0.00xx area with a stop around 0.00xx and a target of 0.0xxx.

Long term Members ProTrade - We will consider a LONG position on a selloff down to the 0.00xx - 0.00xx area with a stop just below 0.00xx and a target of 0.0xx.

At BBA we provide members with suggestive Bitcoin trading and Cryptocurrency trading strategies, and analyse the Bitcoin value on a daily basis.  This can all be access via our hub, which is the ultimate bitcoin trading platform for traders.

You can sign up for free here as see the full content.