Long

LTC breakout

Updated

while we all focus on Bitcoin, LTC has broken out of the descending wedge pattern and now heading towards the upper limit of the descending channel.
Notice the favorable Stoch RSI and long term RSI support line. What we need is a little support from BTC hopefully.

Good luck

This is not your financial advice of course,go do your homework.

Comment

not a nice candle on the hourly and now retesting the wedge line.

Comment

We are still out of the wedge and BBs are getting pinched on smaller time frames,meaning we shall see an action very soon. The direction is bullish biased as per RSI but can go either way.

Trade closed manually

Thanks to BTC this run is short lived

Comment

Such a long consolidation and retesting but we got a great 4hr candle now and might commence on the up move.

Comment

such a huge red volume we had but over all picture for me still good.

Here is the daily view:

notice we are at our major support zone again. This support zone has been holding us at this level quite a while now. Yes, each touch weakens it but I will sell my position only i it is broken decisively.

Comment

forgot to mention the below is the on balance volume indicator and it shows almost no divergence,maybe a little bulish one actually.

Trade active

next possible buy levels.

RSI support line might be pierced momentarily

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