LTC/USDT - continuation of the fall or waiting for the rebound?
Hi everyone!
Checking out crypto news, I've noticed that many investors buy Bitcoin, but this fact doesn’t affect it positively. All traders see that BTC rate is getting lower. And this drags down altcoins as well.
Daily LTC chart shows that this asset breaks out the strong resistance level located at $123.51 and updates previous local minimum.
Now we need to consider the following conditions to open a short position:
1) This day should be closed under $123.51 price level;
2) New trading day opening needs to be lower than closure of the previous day;
3) The price should be fixed below the $123.51;
In case of good scenario Stop-Loss need to be placed above higher point of the previous day.
Checking out crypto news, I've noticed that many investors buy Bitcoin, but this fact doesn’t affect it positively. All traders see that BTC rate is getting lower. And this drags down altcoins as well.
Daily LTC chart shows that this asset breaks out the strong resistance level located at $123.51 and updates previous local minimum.
Now we need to consider the following conditions to open a short position:
1) This day should be closed under $123.51 price level;
2) New trading day opening needs to be lower than closure of the previous day;
3) The price should be fixed below the $123.51;
In case of good scenario Stop-Loss need to be placed above higher point of the previous day.