28, Jul 2020
LTC/USDT LTF Weekly chart
Well it’s a very beautyfull chart, I think ready to burst up as soon as BTC leads the way.
It’s been compressing since march crash and finally showing weekly downtrend line being broken with confirmation.
This is very bullish with a great profit potential as it’s still pretty low regarding it’s own history. Plenty of level to test up there.
LTC / BTC is showing very similar setup with plenty of headroom to grow up.
Don’t miss that one, Stop loss shouldn’t cost you much in case of scenario invalidation.
LTC is very correlated to BTC, and BTC is correlated with gold in opposition with the dollar.
If dollars falls, Gold and BTC seems to be rising.
7, Jul 2020
HTF Swing trades context :
BTC is still hiting the 9 – 10k resistance line.
Will we get a clean breakout on the upside or downside ? only time will tell.
It’s very difficult to take clean and safe trade here, the balance between Long/Short open interest is very 50/50 and can change from a day to another.
As long as there’s no clean break, there’s not much to do but to watch.
For a upward break, need to break and hold 9.4k then 9.8k.
If 8.9k doesn’t hold, market will most probably go for a 7.7k retest.
LTF scalp trades context :
BTC is in an undefined trend. That’s a great context to trade range.
The most advanced traders can try to trade the range, Between 9.1k and 9.3k.
Always set an affordable Stop-loss on all of your trades and of course, manage your risk and position size on these range trades.