LTC/BTC bullish bounce or flip
Looks like BTC will drop soon ... so maybe LTC will become a hedge, or not drop so fast? We approach a supply zone for this pair and indicators have been showing repeated potential price flips and exhaustion.
What I do not quite like about this approaching supply zone is that it a very stable one. Those somewhat lower are more unbalanced - so possibly this will be more of a decent bounce than a true 'flip'? Of course - collerate with what these two assets are doing on their own vs USD and check your own techniques for any entry you might decide to take.
Blue line = supply.
The lighter in colour & thicker the blue line = fresher and better supply.
Purple = structure.
Also - we are still trading within that long candle range = important. A break out of this might well be the same distance in that direction.
What I do not quite like about this approaching supply zone is that it a very stable one. Those somewhat lower are more unbalanced - so possibly this will be more of a decent bounce than a true 'flip'? Of course - collerate with what these two assets are doing on their own vs USD and check your own techniques for any entry you might decide to take.
Blue line = supply.
The lighter in colour & thicker the blue line = fresher and better supply.
Purple = structure.
Also - we are still trading within that long candle range = important. A break out of this might well be the same distance in that direction.
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