LTCBTC trendreversal
Welcome fellow tradingviewers,
For the ones following me for a longer period of time we have mentioned a possible trendreversal on LTCBTC a couple of times.
After our last analyses we had a small fakeout to the downside with the miners capitulation sending the prices into one last dark hole.
Since then prices have returned to the mean and we are now getting even better signals.
So lets jump straight into analyzing shal we?
Monthly:
- A candle closure above 0.0065 is very likely to happen, this would indicate a bullish engulfing candle of the monthly which is a great indicator for further upside.
- The volume picture is also corresponding with the bullish engulfing, increase in volume + increase in price = upside potential.
- Next real resistance would be located around 0.008
Weekly:
- This weekly candle is also trying to become a big bullish engulfing indicating more upside to come.
- Weekly MACD crossed bullish which is a big thing (if you want to know why check our last analyses)
- Resistance located around 0.007
Daily:
- 5 candles ago we had a bullish engulfing candle indicating more upside, which seems to take place as of today.
- Daily closure above 0.0069 would mean that the 200 daily moving average has been overtaken, which would mean that the TREND has CHANGED!
So depending on the daily close of today you could state that the trend on LTCBTC has changed and that we are now once again looking to open long positions.
LTCBTC is soon getting its own ASIC miner which would make the mining of LTC become more profitable indicating that more people will start mining again.
So in summary:
We are really bullish on LTCBTC if we get a closure above the 200 (D)MA and a bullish engulfing on the monthly, then the trend is changed in our opinion and we could be in for a long lasting bullrun.
This analyses is only showing you guys our vision on LTC and should not be considered as financial advice. If you agree or find this analyses useful let us know in the comments below and don't forget to leave a Like!
Kind regards,
Forallcrypto
For the ones following me for a longer period of time we have mentioned a possible trendreversal on LTCBTC a couple of times.
After our last analyses we had a small fakeout to the downside with the miners capitulation sending the prices into one last dark hole.
Since then prices have returned to the mean and we are now getting even better signals.
So lets jump straight into analyzing shal we?
Monthly:
- A candle closure above 0.0065 is very likely to happen, this would indicate a bullish engulfing candle of the monthly which is a great indicator for further upside.
- The volume picture is also corresponding with the bullish engulfing, increase in volume + increase in price = upside potential.
- Next real resistance would be located around 0.008
Weekly:
- This weekly candle is also trying to become a big bullish engulfing indicating more upside to come.
- Weekly MACD crossed bullish which is a big thing (if you want to know why check our last analyses)
- Resistance located around 0.007
Daily:
- 5 candles ago we had a bullish engulfing candle indicating more upside, which seems to take place as of today.
- Daily closure above 0.0069 would mean that the 200 daily moving average has been overtaken, which would mean that the TREND has CHANGED!
So depending on the daily close of today you could state that the trend on LTCBTC has changed and that we are now once again looking to open long positions.
LTCBTC is soon getting its own ASIC miner which would make the mining of LTC become more profitable indicating that more people will start mining again.
So in summary:
We are really bullish on LTCBTC if we get a closure above the 200 (D)MA and a bullish engulfing on the monthly, then the trend is changed in our opinion and we could be in for a long lasting bullrun.
This analyses is only showing you guys our vision on LTC and should not be considered as financial advice. If you agree or find this analyses useful let us know in the comments below and don't forget to leave a Like!
Kind regards,
Forallcrypto
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