LTCUSD has broken out of a major accumulation zone, but it's quickly approaching heavy resistance. Daily money flow index is at ATH. I repeat for emphasis, MFI has never been higher than it is right now, in the price history of this coin on this exchange. I wouldn't be surprised to see a short term pullback over the weekend. RSI is approaching historically meaningful levels. Price is approaching historically meaningful levels. The sequence of wick downs at the local top in February are the most revealing of the structure and magnitude of resistance in the ~$66 region, and there are plenty of bagholders from the $64 wedge in early March who understandably misread some of the signals the market was putting out at the time. Not sure how this is going to play out, but I advise everyone entering new trades to be cautious and maybe wait for better entry points below $52. For those of you who are currently long, my advice is to avoid complacency here, and especially if we get another +10% pop.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.