Bulls holding recent lows and seeing an hourly oversold bounce with a strong correlation to ETH this morning.
We did not see 4 hour RSI levels hit oversold so we are cautious this could be a short term bounce before another leg down.
Stop losses at break even as the bounce gets some breathing room is ideal for protection.
While not as weak as ETH, the daily chart has certainly been in control of the bears over the last week with all the attention on BTC all time highs.
I played ETH on this hourly oversold bounce due to RSI levels, but if LTC 4 hour RSI were to get oversold, I would likely play here on another leg down.
We did not see 4 hour RSI levels hit oversold so we are cautious this could be a short term bounce before another leg down.
Stop losses at break even as the bounce gets some breathing room is ideal for protection.
While not as weak as ETH, the daily chart has certainly been in control of the bears over the last week with all the attention on BTC all time highs.
I played ETH on this hourly oversold bounce due to RSI levels, but if LTC 4 hour RSI were to get oversold, I would likely play here on another leg down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.