Cryptocurrency Commerce Concepts with Level and Determine Evaluation
Above: Litecoin (LTCUSD)
Litecoin has two choices on its present $1.00/3-box Level and Determine chart – one for each side of the market. I usually don’t prefer to take double backside or double prime trades until it confirms a Lure sample, Fakeout sample or a Catapult sample – however give the extremes right here its inside my threat parameters. The primary concept here’s a lengthy entry at 154 with a cease loss at 151 and a revenue goal at 161. On the quick aspect of the market I’m taking a look at a promote cease at 145, cease loss at 149 and a revenue goal at 130. Relying on how bearish the market stays within the risk-on area, Litecoin may proceed south with some alarming velocity. Be careful for any whipsaws in value motion.
Above: ChainLink (LINKUSD)
Working with the identical view as Litecoin regarding the extremes being traded, ChainLink additionally has two commerce concepts – one for bulls and one for bears. For bulls, the lengthy concept a purchase cease at 22.50 with a cease lsos at 21.75. The revenue goal on the lengthy is at 25.25, however it needs to be watched as there’s some congestion at that stage. On the quick aspect, the thought is a promote cease @ 20.75 with a cease at 21.75 and a revenue goal close to a brand new multi-month low at 17.25. I’ll contemplate getting into into some longs round that $17 to $18 vary.
Above: Solana (SOLUSD)
Out of all of the pump and dumps within the DeFi and NFT area, none holds as many bag holders and blind cult fanatics as Solana. I’m not saying Solana is unhealthy, however Solana’s fan membership is type of like Doge’s or XRP’s: frothing on the mouth cult members who’re blind to any path however up! Saying that I do see some upside potential right here (I used to be quick from 195 to 120). A purchase cease entry at 140 would qualify as an early entry on a Pole Sample, however the cease loss on the low of present O-column at $120. The revenue goal could be on the check of the dominant bear market development angle at $185.