Litecoin's recent rebound looks quite fierce, but a careful look at the 1-hour chart reveals some tricks. The price touched 82.07 and then quickly retreated, now holding at 81.06, having already broken below the support of the MA5, MA10, and MA20 moving averages.
RSI(6) is only 43.18, clearly indicating a bearish bias; MACD green bars are starting to appear, with DIF and DEA both sticking at -0.04, which suggests that the bullish momentum is weakening. The market behavior resembles a main force pushing the price up to sell off.
From a technical perspective, a bearish approach can be considered. Opening a short position around the current price of 81.06 is relatively safe, with a stop-loss set just above the previous high of 82.07. The first target below is 79.89 (the 24-hour low), and if the price breaks further, you can chase down to the previous low of 79.88.
If you are trading trend-following positions, hold firmly; for short-term trading, remember to take partial profits at key support levels. Lastly, be aware that in this kind of weak rebound pattern, the main force can easily play the reverse hand to smash the price down, so be sure to guard against the risk of key support levels being broken again.
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CommunitySlacker
· 18h ago
Oh my, this wave is again the main force harvesting the leeks. I knew it.
It looks like it's going to drop below $79. First, reduce your position to protect yourself.
RSI is already so low, and you're still daring to chase the long? Are you out of your mind?
I bet it will gap down again; it's all a trap.
This time, I’m definitely not bottom-fishing. I'll wait until the death cross is fully confirmed.
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metaverse_hermit
· 01-10 12:08
Another fake rebound trap line, the main force really knows how to play. Let's stay on the sidelines.
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ProtocolRebel
· 01-10 08:16
It's the same old trick of inducing buying at high levels, I don't buy it anymore.
The main force just wants to trap the retail investors, I have already opened a short position.
Just watch, see you at 79.88.
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ETHmaxi_NoFilter
· 01-09 21:55
81.06 at this level is really dangerous; if the three lines break together, it's a signal. The main force's tactics are too old-fashioned.
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GateUser-afe07a92
· 01-09 21:55
The main force's routine has bored me, are they trying to dump again?
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Breaking 81 really means more decline, the bearish signals are too obvious.
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RSI is only around 43, no hope for a bullish trend, I've already set my short orders.
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This rebound is just a trap, anyone chasing will be caught.
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Why is that line at 82.07 so stubborn? Tried testing it three times but couldn't push through.
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When MACD is stuck together, I know there's no strength left; the green bars will soon flood in.
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Short-term traders, remember: see you at 79.89.
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Here comes the same trick of raising prices to sell off again. I've been in crypto for two years and I'm tired of it.
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quietly_staking
· 01-09 21:51
The main force is playing tricks again, I'm tired of this routine.
If 81.06 can't hold, then get ready to watch the show; the bears do have a chance.
A rebound is just a sign of distribution; who still believes it?
Breaking below 79.89 is truly a real decline; now it's hard to say.
Short-term players should wake up; take profits without delay.
Once again, this weak rebound, the main force loves to smash the market and cut the leeks.
RSI so low and still rebounding? Just bluffing.
All moving averages are broken, the bulls are cooling off, no problem with being bearish.
This previous high at 82.07 also can't hold, what else is there to say.
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RektRecovery
· 01-09 21:49
lol "拉高出货" yeah i saw this exact pattern play out like three times last month, always ends the same way. retail gets trapped above 82 while the whales exit through the back door. textbook dump & pump theater right there
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ZKProofEnthusiast
· 01-09 21:45
82.07 is a quick bounce back, this is the main force testing the ceiling.
I've already laid out the short positions, just waiting for 79.88 to buy in.
RSI is only 43, the green bars are appearing, the bulls are really losing momentum.
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ChainWatcher
· 01-09 21:40
I've seen this trick from the main players many times before; a rebound always leads to losses.
Here we go again, I got trapped at 82 last time.
Be careful with short positions; this coin is really good at fake-outs.
It's a bit risky around 81, but I still remain bearish.
This rebound is ridiculously fake; it will crash sooner or later.
Litecoin's recent rebound looks quite fierce, but a careful look at the 1-hour chart reveals some tricks. The price touched 82.07 and then quickly retreated, now holding at 81.06, having already broken below the support of the MA5, MA10, and MA20 moving averages.
RSI(6) is only 43.18, clearly indicating a bearish bias; MACD green bars are starting to appear, with DIF and DEA both sticking at -0.04, which suggests that the bullish momentum is weakening. The market behavior resembles a main force pushing the price up to sell off.
From a technical perspective, a bearish approach can be considered. Opening a short position around the current price of 81.06 is relatively safe, with a stop-loss set just above the previous high of 82.07. The first target below is 79.89 (the 24-hour low), and if the price breaks further, you can chase down to the previous low of 79.88.
If you are trading trend-following positions, hold firmly; for short-term trading, remember to take partial profits at key support levels. Lastly, be aware that in this kind of weak rebound pattern, the main force can easily play the reverse hand to smash the price down, so be sure to guard against the risk of key support levels being broken again.