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LTCUSD Remains Under Selling Pressure

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Avatar for rafaelken1989
Written by   52
4 months ago

Litecoin remains under selling pressure although having an overall good mid-term consolidation phase since it found footing from its monthly lows last June.

Thankfully, the LTCUSD's fresh swing high last week gives more upswing hopes.

Its 4-hour RSI indicator still below the 50 neutral level hence short-term price fall-offs can occur again back to as low as the 50% fib retracements from the June lows to last week's highs. I want to make a long entry in that level.

Should price holds in that level, it will be good to sell on the next upper 38.20% retracement.

Otherwise, further sell-offs can pave way towards September 7 lows. That will be my buy stoppage.

Risk/Return score of 3.446.

Also this trading plan can drag more time so patience will be the key.

Original article written by me:

https://www.finlogix.com/analysis/20220917/ltcusd-remains-under-selling-pressure

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Avatar for rafaelken1989
Written by   52
4 months ago
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