DLavrov

Litecoin Bearish Divergence

POLONIEX:LTCUSDT   Litecoin / Tether USD
If we look at the daily chart of Litecoin, we can see that price diverges with MACD and RSI indicators. We have a bearish divergence which is a strong trend reversal signal. Probably the market will drop to the support zone between 35.00 and 32.00 levels or even reach MA100. MACD confirms down movement. ADX line of DMI indicator falls to 20 level and it tells us that we should not expect strong price movements. Based on these signals it's better to wait for price correction and buy from the support zone . But if you want to open long terms trades, you can do it based on a reversal signal from MA20. Don't forget that this price reversal must be confirmed by RSI and MACD histogram.
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Your chart was a big help in dealing with the transaction. thx
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looks like u were right
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@DLavrov, how does the RSI confirm price reversal? Thank you, once again, for your patience with all my questions.
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@rf2020, when RSI changes direction, it confirms price reversal on the chart.
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Any updates on this TA? Do you have any other thoughts? It seems to be stabilizing above MA20
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DLavrov Carsonford
@Carsonford, we have to wait. Now price is between the resistance level and MA20, but it means nothing )
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mbyz DLavrov
@DLavrov, is this still relevant or....I think signals are not clear to go down???
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Great analysis, as always. Do you ever use the schaff trend cycle in your analyses?
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I don't think goes under $44 unless big crush occur then
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Thanks DLarov, I've been reading and studying many charts here for the past couple weeks. Your's have been extremely helpful so thank you.

I just started trading, but have been holding some different crypto since 2013. I've learned the hard way I am not very good at this on my own, so I'm starting to follow the people that are successful and do as they do! Thanks
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