Cryptocurrency Circle Liying: The main force of LTC has laid a "net of heaven and earth" at $58, and those who understand have all profited!

Family! This time, LTC's pullback has been too severe, plummeting directly from the high of 75 to 58, with profits retracting more than half in just a few days. In fact, it is during such times that the mindset and skills are most tested! Today's Liying content is specifically prepared as a "calming pill" for those feeling lost.

I will translate the complex candlestick language into plain speech, telling you what the main force is thinking. If you want to break free from the curse of "buying leads to falling, selling leads to rising," and establish your own trading system, be sure to follow. The upcoming content is full of valuable information, especially the practical entry points in the third part, which I recommend studying repeatedly. This may be the key battle to turn around your recent losses!

The daily structure is currently undergoing a "stress test." The previous wave of upward movement that started from 39.25 is currently experiencing a noticeable profit pullback. In terms of moving averages, the short-term EMAs EMA7 and EMA30 have formed a dead cross at high levels and are diverging downwards. This poses direct pressure on the price, which is why every time it rebounds to around 62, it gets pushed down.

However, it is worth noting the purple line below EMA120, which still maintains an upward slope, indicating that the long-term bullish pattern is not broken yet. The MACD indicator has a dead cross above the zero line; although the green bars are lengthening, they are not out of control, belonging to a healthy adjustment range.

The most critical signal lies in the Bollinger Bands, where the price approaching the lower band at 58.03 typically indicates a physical rebound demand. The current price of 58.19 is exactly "the trench" fiercely contested by both bulls and bears. Holding it is a golden pit, failing to hold it leads to an abyss.

Adopt a defensive counter-attack strategy.

For long positions, focus on the 57.5-58.0 range. If a pinbar forms and returns or if a bullish engulfing appears around 55.6, you can enter. Set a stop loss at 54.8 with a target of 61.5/65.

For short positions, if a large bearish candle breaks below 57.5, you can short. Set a stop loss at 60 and look for 50 or short on a rebound at 62.5 if met with resistance.

Current volatility is high, so be sure to use low leverage, take profits as you catch the fish, and do not be greedy.

The above content is exclusively original by Liying. Please indicate the source when reposting! There may be delays in article publication review, market conditions change rapidly, and the above suggestions are for reference only. Risks are self-shouldered. For more details, you can find Liying on Binance, in the Europe Community, search: Cryptocurrency Circle Liying, and you can consult Liying directly.

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