When foreigners come back to work after the holidays, the most intuitive feeling is that the market is hot!
Whether it is the positive news of ETH in March or the reduction in production of some currencies such as LTC, they are telling us that there is a bright future ahead!!!
LTC has now reached a critical position, with both the daily and 4H charts rising. Next, we will conduct a review of LTC.
I don't have time to write an article this morning, so I'll post it first.
First, let’s look at the weekly trend of LTC production reduction in 2019. The same Bitcoin peaked and plummeted, and the same LTC production reduction, the reference here is of great significance
As shown in the figure, LTC has bottomed out on the weekly chart and has broken through the daily pressure level (yellow frame). A huge negative line on the weekly chart has taught people a lesson, and most of the undetermined people have been washed out here. The bottoming signal in 2019 was not obvious, and this time the LTC bottom accumulation signal was stronger. However, due to the big thunder DCG in the market, everyone was quite panicked, and I did not move here. I am waiting for a daily level trend signal, and here we add an indicator - Ichimoku Kinko Hyo.
Regarding the specific use of this indicator, a tutorial will be given later. Here we only look at the green shadow part. As shown in the figure, if the daily line only stands above the shadow part, there is a high probability that there will be a wave of bullish market, and if it falls below the shadow, a bearish trend will begin. (This indicator can also be a scam sometimes, but it has a high tolerance rate)
Because we are worried about scams, we insert the 4H moving average here
Similarly for 4H, if it stands above the MA200 moving average, a bullish arrangement is formed, and there is a high probability that a 4H upward trend will begin.
The current K-line once again stands on 4H MA200.
We can see through reviewing that the current weekly, daily and 4H trends all show an irresistible trend. I have taken some positions myself. Why didn’t I fill up my positions? I was afraid that DCG would explode and I would be stuck, and I was afraid of encountering a black swan.
I said at the beginning of the article that the market is on fire. The entire cryptocurrency market has not fallen that much. Even if it returns to zero, it will rebound, right?
The above content does not constitute any buying or selling advice. Everyone should be responsible for their own funds. Well, that's all. I hope everyone will get rich in 2023. Don't miss every opportunity. If my subsequent trend proves that I am wrong, please don't criticize me too much.
Let’s talk about the importance of opportunity cost in a few days.
