✴️ Litecoin Detailed Short-term Analysis, Likely Forward Now

19 Jul 2023

Ok, we have some really subtle signals but they are visible and can build up pretty quickly.

Litecoin is trying to move forward based on this short-term chart.

- Candles: 17-Jul 4:00 lower low, lower volume compared to 14-Jul 12:00.
- Candles: 18-Jul 12:00 higher low compared to 17-Jul 4:00 session.

- Volume: The buy volume on these last sessions can also be read as early reversal signal.

- Fibs.: Bounce happening before reaching 0.618 fib. retracement.

- MACD: If you open up the MACD by double clicking on it you can see a bullish cross.
- MACD: bullish divergence as well.

These signals can gain additional strength above $93.
A session closing above $93 would lend additional strength to these signals.

- RSI: Some divergence can also be seen on the RSI. The 1H reading was oversold recently.

- Drop: A 22% correction from the latest peak.

This setup can be traded if you enjoy high risk.

Stop-loss below $88.
Hit the boost above it.

Seeing XRPUSD moving up and Bitcoin still ranging at 30K is positive.

I am thinking a long based on this setup myself, not sure if my people will enjoy the risk... Huh.

Thank you for reading.

Namaste.