Topic: Litecoin + 1363% for the year from the MAcross. And a downgrade position. (Read 123 times)

Litecoin + 1363% for the year from the MAcross. And a downgrade position.
https://app.icex.ch/en/feed/technical-analysis/2710-litecoin-1363-for-the-year-from-the-macross-and-a-downgrade-position

Litecoin is losing in price along with other cryptocurrencies.
This week (tomorrow to be exact, if there won’t be a giant growth in price), MAcross on the weekly chart will turn over to sale. This is a remarkable and rather rare event: the last buy signal was a year ago at $ 8.34.
Thus, this trend indicator brought its followers 1363% profit for the year.
But this is in the past now, what shall we do at the moment?
The sell signal at the current price of $ 122 is almost inevitable. What are the prospects?
If we count the result in %, then the profit from short positions is much less promising and the 1363% number is not possible. A maximum of 100%. Therefore, for those who are not interested in profits below 100%, consider closing long positions and wait for a buy signal.
And for those who won’t hesitate to risk for the sake of + 50%, we recommend to open short positions. Cause such a goal is technically calculated: in case of breaking through the February minimums and support at about $ 105 (many cryptocurrencies already overcame the corresponding levels), the next significant level is at about $ 55.
A good stop for this position is placed at about $ 180. So, it's better to open a short position close to this level. It also seems that there will be a rebound upwards on the market.

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