Navigating a Downtrend Channel with Potential for Reversal

27 февр. 2024 г.

LTCBTC has been trading within a downtrend channel, with the price nearing the bottom side of this channel. Despite the prevailing downtrend, there are signs of a potential correction. A bullish divergence pattern is forming, indicating a weakening bearish momentum and a possible trend reversal.

Given these observations, we are considering initiating accumulation from the provided accumulation zone. This zone serves as a strategic entry point to accumulate LTCBTC at favorable prices. To manage risk, a stop loss of approximately 20% below the accumulation zone is recommended.

Once LTCBTC begins to show signs of upward momentum, the profit-taking strategy can be initiated. The initial profit-taking area starts from the immediate resistance level and extends towards the important sell-off zone.

It's important to exercise patience, as the anticipated movement may unfold gradually rather than rapidly. We should refrain from expecting immediate results and maintain a longer-term outlook.

Your insights and feedback on this analysis are welcome.

Thank you.

9 мар. 2024 г.

Сделка активна

6 окт. 2024 г.

Сделка активна

Price still stays within the accumulation zone; we can keep picking our coins.

14 февр.

Заметка

LTC/BTC is in a long-term downtrend but has entered an accumulation zone. The zone holding firm with good bounce.