Litecoin / Dollar intraday: the RSI is overbought

Trading Central 2020-11-19 22:17:06

77.60 is our pivot point.

Our preference: the upside prevails as long as 77.60 is support.

Alternative scenario: below 77.60, expect 75.50 and 74.20.

Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 75.12 and 74.01).

Supports and resistances:

86.20 **

84.90 *

83.60 **

82.30

79.57 last

78.50

77.60 **

Disclaimer
The trading strategy containing reference trading prices and analysis opinions is provided by the third-party provider Trading Central.And the trading strategy is only the personal research and judgment by analysts,which is not a statement of facts.No representation or warranty is given as to the accuracy or completeness of this strategy. Consequently any person acting on it does so entirely at their own risk. TOP1 accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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