Uncategorized

Litecoin crosses to the short side

Open Interest – Long: 1.09 Days
Open Interest – Short: 1.17 Days
RSI: Hidden Bullish (1D)
OBV: Rising
VOL: Flat

Price Action: First the first time in 2019, the bearish margin trades have extended above those of the bulls (albeit very slightly). Right now, price is in a slightly dead spot hovering around the $60 position – with next levels of support roughly $7 each side. On the shorter 4H timeframe; a short position here does make sense for a small trade (expecting the middle of the channel to offer support).

Key Resistance: 60.0, 67.0, 72.8 (52w MA)
Key Support: 54.0, 51.5 (28d MA), 48.0, 44.0 (26w MA)

Leave a Reply

Your email address will not be published. Required fields are marked *