I posted a chart a couple months back suggesting that LTC could be forming a new uptrend. Now it appears the analysis was correct. What now? I am watching to see if price will pull back any more than it already has. I would look for support at the yellow box zone. This could be an idea place to get long if the market stays as strong as it has been. I would...
Currently price is at the support zone of the up trending line. The last time price went from the 1.34's to the 1.35's. Price could find the strength here for another bounce. However, if price fails from current levels, I then would look for support at the horizontal orange line.
We are currently at the top of the down trend channel. If resistance holds, we could see lower prices in LTC soon to come. BTC also showing the same formation but on a lower resistance point.
I know a lot of people are looking for a bottom in BTC, but until we break the downtrend line and start forming higher lows followed by high highs, we could still see lower prices to come.
If $3K does break, we could see a move down to $1800 to $2000 or lower which would hit the bottom of the channel in red.
I have a down trending slope that has bullish context(resistance becoming support) and an up trending slope with bearish context(support becoming resistance)
I am waiting to see which slope is in control. I am short term bearish as we are still under the neckline of the H&S pattern but long term bullish as MACD has bullish divergence as price has declined. See...
This chart only shows price and some channels/slopes.
We have both a down trending slope with bullish context as resistance has now become support but also have an up trending slope with bearish context as support is now resistance. I have highlighted the lines I am watching in green. I am just waiting to see which slope shows me that it is in control. I am...
As you can see we have bullish divergence in the MACD. The two previous times this happened, AGNC had nice rallies from their lows. Note also how present price action could also be forming a H&S pattern that has broke the neckline and appears price could be forming a hand suggesting lower prices are to come. IF lower prices do follow and MACD makes again...
