Right now, we were sitting at 38, 15 cents were up 0.16 percent and add four things that I wanted to bring to you today to watch for light coin and the number one thing I want you to pay attention to. Is this green trend line? If you have the charts up at home and in front of you, I would definitely draw this trend line, because what we're looking at here is light point on the four hour time frame and what you see is one touch we have about one or two here. We could call it three four, so this is definitely a valid trend line that we're dealing with right now and if we are to start breaking down through trend lines as you've noticed in the videos that we've done guys. Typically, if we break down through trend lines on heavier volume, it's going to be a clean break and a lot of times, you'll start going much lower, so that's, definitely something that we want to see hold for litecoin. What we need to do is continue to set this higher low, that we have now and then come up here and start challenging forty one dollars and seventy five cents we're going to get into more here guys. But if you like me, cover and litecoin like subscribe hit that notification bell, like I said you all, are my litecoin family. I know some people pick on light coin and whatever, but that was the first coin I ever got in three years ago, when I was in cryptocurrency, I love trading light coin.
I think it has great potential down the road and you know a lot of people would say: litecoins dead, they'll say all these other coins are dead, but guys in this market anything can happen. We have to realize that there's times when you go to bed, you wake up and light coins up 20 or it's down. You know 30 that's just the name of the game, and you have to accept that risk. If you're in this space and for me that's. Why I like trading this, so I can get in and out of like coin, that can look for the best opportunities possible. But I do like the fact that we are still holding this trend line. But what needs to happen is that we need more volume to make this next strong move to the upside just like when we set this higher low right in here, and we got that nice strong, move to the upside. If we're able to get up and over 41 dollars and 75 cents, then we could have a clean shot guys where we could run up here to around that 4828 we'll call it even 50 is going to be the next target if we're able to get over That 41, so there could be some potential here, but what we're gon na need to see is heavier volume, stepping in that's going to be the key for us and what I also like to do. A lot of the times.
Guys is look at those moving averages along with the trendline, so say we do start to have a downside trend line break. I would also want us to lose this 50 moving average as well, and all my books, technical analysis, books. Everything that I read. They always talk about a trend line and a longer term moving average. So when you're up above those, you want to stay in your position when you break down below those that's when you want to get out of your position so right now, we are still watching this and we're gon na see. If we do get that continuation to the upside, I think that's going to be extremely important for us to see that and to have it on heavier volume. Nästa, what I want to do is get into a couple indicators remember. This is on the 4 hour time frame. I really like trading on the 4 hour, the one hour in the 15 minutes. So basically what I do. I base my trades off the 4 hour, but in terms of entries, I like to look at the 1 hour and the 15 minute chart as well, and that can kind of help you pinpoint those areas just like in here where you saw our higher low, was Defended with this doji candle right here came on more volume, so we ended up getting pushed down through that trendline and we made it down to about 34 dollars and six cents, and then we got bought back up, and that was important for us right there cuz That showed that the Bulls were stepping in that area.
So now we need that again and whenever you see the candles getting tight like we're, seeing now that's going to show that some type of a break is going to happen. So that's definitely something that I want to put on your radar here that the Bulls must step in in this area. If we were going to have continuation to the upside, remember, everything is predicated off Bitcoin. You know guys that's why I love covered litecoin. I don't pay much attention to other. You know youtubers in the cryptocurrency space or anything like that, but it seems like a lot of people really aren't covering litecoin anymore and I'm gon na continue to do that. I don't care what the price is. I know a lot of people really enjoy me covering litecoin and I enjoy my light coin family as well. You guys have been awesome. You always give me the most likes and subscribes and all that type of stuff. So I just really appreciate you being here with me, but what we want to look for now: we're gon na go into our relative strengths. We want to see what we're looking at here so in terms of our relative strength on the 400 hour we're at 52. So we're running a little bit more neutral there that's going to be in something important for us to pay attention to, and what also want to do is draw a trendline right down in here. We'Re gon na have to see if this will hold for us on the RSI, so it's kind of that same level here to see if we do get some type of a bounce or a strong move up to the upside last time.
Our RSI got up to around 70 and then that's when we started to get that sell off. So these are the areas that you want to look at and you want to pay attention to. Like I've talked to you about. You know these overbought oversold conditions, and then you want to factor in where we're at are we on a trendline? Are we on a support area? What are the candles? Looking like? You want to find that confluence so that you can plan your move so right now we need that strong defense. We need the Bulls to step in. We need to get over 41 and we'll call it 90 cents, and then it's gon na be up here around that 48 dollars. Then it would be up. Around 50 dollars is gon na be the target, and then eventually we need to get back. Over top of this 200 moving average on the four hour time frame, look what happened when we lost that guy's. That was back in February 26th 2020 and we were up around 70 dollars and since then, once we lost that excuse me once we lost that we've been pushed so hard to the downside, so that's. Why it's important to pay attention to these things? Just like right here, it's important for the fact that we are finally now back up above this 50 moving average in pink on the 4 hour time frame. Because look what happened when we lost it? We were around 60 we've traded below it, and now we are up above it.
We moved up above it now when we're trying to find as a higher low on top of it, so that we can continue to make a move to the upside but we're, just in that sticky area right now guys. We really need to pay attention here and if we go into trading view, I want to show you what trading view saying here in terms of just factoring in all the moving averages and all the different things that we need to pay attention to. You know what guys my trading view it's, actually not letting me go down right now. I apologize oh no, why that's messing around with me, but it's, not gon na show us, but what I wanted to do was go into that and just show you what the moving averages are saying and what some of the indicators and different things along those lines Are saying so if you have trading view – and yours is working properly, we've been having a little bit of trouble here with our internet, all the craziness going around the world, but no guys I'm going to continue to preach that capital preservation. I know people lost their minds when we have this nice little move up there and we got to around 45 dollars, but this is just another area where we're pulling back and that's. Why I'm not afraid to take profit in this space? I'Ve really got we're gon na FOMO. You know I'm happy when I make a profit if it continues to run.
That is what it is. You always want to protect that capital in a space that we're in like this, when it's so volatile things that are going on around the world are extremely volatile. All the markets are having trouble right now, so this is definitely where you need to protect yourself, but this is the area that I really want to see us make a nice strong move to the upside, so that's. What I'm gon na be looking at guys see if we can target up around that 41 to the upside to the downside, we would want 35 dollars and 87 cents to hold that's what's going to be important. We also wanted to come on that volume. So let me know down low what you're doing like subscribe hit that notification bell. I appreciate you all being here with me today. God bless you and have a wonderful Saturday, guys just really watch that trend line watch for that break and see if we get that nice strong move to the upside or if we start breaking to the downside, that will give you a big clue. Okay, god bless.