LTC – Are we gonna break the bearishness?
Litecoin / Bitcoin BINANCE:LTCBTC
Litecoin is one of the most bearish assets out there last days. Since 15th of Oct. it didn´t even get above the BB mean. It looks compressed to the downside as much as possible.
Anyway, I think things might change. It is more risky trade indeed, but we can see:
– A bullish wedge in created on the 4hr timeframe.
– Bullish divergence on RSI and stochastic (several timeframes)
– Sitting on horizontal support and support of BBs
– Very oversold on daily TF as well
You can adjust the SL. There is still possibility it will go a little bit wrong and fuck all stoplosses before it bounces back again. Recently we have seen that so many times…