Uncommon RSI Divergence Spotted on Litecoin
RSI divergence are uncommon and usually signals a reversal coupled with the long hairy wicks showing much resistance at this level means more confirmation for a reversal. RSI is also still in the overbought region signaling a reversal soon.
Moving average stays a strong uptrend with higher highs and higher lows.
Volume lowering down consolidating for another upward move considering Litecoin is still tailing Bitcoin's move.
Strong bottom uptrend support and double top resistance forms a fairly strong support near the 90 - 97 price range. Possible a bounce up if it comes down. Else it will just accumulate on a range at the current price range near 122 - 136 before breaking up to the next Fibonacci level at 170 - 190.
Squeeze Momentum looks like it might be tapering off but I've just added this indicator, not sure how this might factor in.
I think it's not a good time to buy nor sell due to the many conflicting signals but hey! It's Cryptocurrency! High Risk, High Return right?
My take on my TA is probably a short term short and a long term long. Pun intended.
I decided to switched up my indicators from 20,50,200 Moving Average, RSI and MACD to TDI, Squeeze Momentum and Multi-TimeFrame MA because I'm using a free account and TDI already includes RSI and Bollinger Bands. I also switched the RSI levels to 80 and 20 instead of the default so there's more accurate trades.
I should have stuck to my TA for Litecoin instead of FOMO buying a whole bunch of XRP, now I'm a 44 cents bagholder for probably a few months or possibly a year. FML >.<
Moving average stays a strong uptrend with higher highs and higher lows.
Volume lowering down consolidating for another upward move considering Litecoin is still tailing Bitcoin's move.
Strong bottom uptrend support and double top resistance forms a fairly strong support near the 90 - 97 price range. Possible a bounce up if it comes down. Else it will just accumulate on a range at the current price range near 122 - 136 before breaking up to the next Fibonacci level at 170 - 190.
Squeeze Momentum looks like it might be tapering off but I've just added this indicator, not sure how this might factor in.
I think it's not a good time to buy nor sell due to the many conflicting signals but hey! It's Cryptocurrency! High Risk, High Return right?
My take on my TA is probably a short term short and a long term long. Pun intended.
I decided to switched up my indicators from 20,50,200 Moving Average, RSI and MACD to TDI, Squeeze Momentum and Multi-TimeFrame MA because I'm using a free account and TDI already includes RSI and Bollinger Bands. I also switched the RSI levels to 80 and 20 instead of the default so there's more accurate trades.
I should have stuck to my TA for Litecoin instead of FOMO buying a whole bunch of XRP, now I'm a 44 cents bagholder for probably a few months or possibly a year. FML >.<
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