Litecoin trading cryptocurrency market update for Mar 22, 2019
Mar 22, 2019 --- Altcoins
From a weekly perspective, LTCBTC appears to be consolidating in bullish fashion on a bright green SCMR signal and favorable market structure while strong dynamic support continues to actively build below the market, all of which bodes well for the bulls moving forward, as do the rising EMA's and 100 & 200 SMA's so another leg higher over the coming weeks seems likely according to the technicals. That said, shorter-term we think the market is due for more consolidation with a slight downward bias considering how overbought momentum is, therefore we'll continue to stay patient for slightly lower levels before getting active on the long side again.
Short term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.000xx - 0.000xxx area with a stop just below 0.000xxx and a target of 0.000xxx.
Medium term Members ProTrade - We will consider a LONG position on a continuation down to the 0.000xxx - 0.000xxx with a stop just below 0.000xxx and a target of 0.000xxx.
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