The LTCUSD price remains sloping downward with the price trade below the 3-week rotation range (green, yellow points). However, the daily circular range (blue dots) is neutral at the time of writing this article with a price action that is within the range for the last few hours.
With today's opening (white background), also supporting resistance, be careful with the purchase at this moment.
The average daily moving average (red, yellow, white lines) remains downward, which is bearish on this 60-minute chart. Also, the 14-day and 30-day daily moving average crossed the 50-day moving average. This is a bearish trend on a long-term basis.
The idea is to place a stop loss at 16450 below the last low, and in the case of launch - stop loss and profit targets, as indicated below.
Note: this trade recommendation is good for today and expires in UTC 0800.
running Price: 16450
Stop-loss: 17903
Take profit: TP1 - 15450, TP-2 - 14450. After reaching TP-1, bring the stop-loss to breakeven.