LTCUSDT Long Setup | Bullish RSI Divergence
LTC had been trading within a bearish structure, forming consecutive lower highs and lower lows. A bullish RSI divergence then developed, with price printing a lower low while RSI formed a higher low, suggesting that selling momentum was weakening. I used the 1 hour timeframe for analysis and the 15 minute timeframe for execution, taking a long entry based on the divergence and the subsequent recovery in price. Trade levels: - Entry: 51.22 - Take profit: 52.36 - Stop loss: 49.98 This is a countertrend setup targeting a potential recovery. The divergence supports the possibility of a rebound, but a sustained trend reversal would require further confirmation from price structure. My stop loss defines the risk if the setup fails.
TITradingView Ideas16 Sept
