Litecoin trading cryptocurrency market update for Jul 31, 2019

Aug 1, 2019 --- Altcoins


3 Day Chart

The Litecoin halving is only days away and yet LTCBTC continues to tread water between 0.009 - 0.010 today on a still red SCMR signal and mixed candle formation while the short-term market structure remains broken but the longer-term structure is still intact (barely), none of which is very convincing therefore more consolidation is likely over the near-term. The mixed state of the moving averages and the stagnant momentum and volume indications are also suggesting more sideways action within the short-term range, hence we'll continue to stay patient until better a better opportunity presents itself (perhaps on a "buy the rumor, sell the news" move after the halving occurs). 

Short term Members ProTrade - No new ProTrade ideas at this time.

Medium-term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.00xx - 0.00xx area with a stop around 0.00xx and a target of 0.0xxx.

Long term Members ProTrade - We will consider a LONG position on a selloff down to the 0.00xx - 0.00xx area with a stop just below 0.00xx and a target of 0.0xx.

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