Price Action Strategies For Trading Litecoin (LTC)
shares strategies cryptocurrency prices for Litecoin Trade (LTC)
As a salesman, you are constantly looking for effective ways to make intelligent investment decisions. Cryptocurrencies are becoming more and more popular in recent years, and many traders come to the market in search of high profits. One of the most sought after cryptocurrencies is Litecoin (LTC), which has recently noted significant growth and variability. In this article, we will examine some price strategies in the field of Litecoin Trade using Technical Analysis Techniques.
Understanding Litecoin Share Prices
Before immersing yourself in price strategies, it is important to understand what it does cryptocurrency. Litecoin is an electronic cash system with an open source that allows users to send and receive transactions without the need for intermediaries. The network operates on a consensus mechanism in which miners verify transactions and add them to blockchain.
Key Price Rates
When analyzing the litecoin price, there are severe key indicators that traders can use to assess market moods and potential trade capabilities:
- Trend Lines : Traders often Follow Trend Lines to identify support and resistance areas. A clear rising line raises prices up and the downward line will pull them down.
- Volume Crossovers : Volume is an essential indicator that helps traders confirm the price. When the volume is exceeded above its 20-speed movable medium (ma), it may indicate a potential buy signal.
- RSI Oscillator : Relative Force Indicator (RSI) measures the Rush of the Market and Variability. RSI below 30 indicates purchased conditions, while the RSI above 70 suggests sold out conditions.
Litecoin Price Strategies
Here are some strategies for price in Litecoin Trade:
- Trend After Strategies
* Long -Term Trend: Identify a long -term trend and follow it. In this case, the long -term trend is up.
* Short -Term trend as follows: identify the short -term upward trend or decrease and follow it. However, watch out for false signals from short -term price activities.
- Breakthrough strategies
* Identify potential blemishes: look for areas where prices broke out from previous levels of support or resistance.
* Set the stop: Set the alloy level below the breakthrough level to limit the losses.
- Identification of Support and Resistance
* Identify key levels of support and resistance: Use technical indicators such as trends, RSI and MACD lines to identify support and resistance areas.
* Adjust the loss of stopping according to: when prices explode above or below these levels, adjust the degree of alloy to avoid significant losses.
Sample Table
Here is an example table showing a long -term trend after the strategy:
. Date high low open close
. — | — | — | — | — |
. 2020-01-03 | $ 45.00 $ 43.50 $ 44.00 $ 46.20
In this chart, the high price of 46.20 USD is a strong level of growth, while the low price of USD 43.50 indicates a certain level of support.
Application
Trade of Cryptocurrencies is a high risk effect that requires careful analysis and risk management strategy. The variable price of litecoin is the possibility of making profits thanks to conscious decision making. Understanding the key indicators of price activities and using these strategies, traders can increase their chances of success on the cryptocurrency market.
Reservation
In this article, you should not be treated as investment advice or guarantee of future results. Cryptocurrency trading is associated with considerable risk and it is necessary to conduct your own tests before making any transactions. Always set stop feet, limiting the exposure to high -risk assets and never investing more than you can afford to lose.