Litecoin looking for a breakout against BTC!
Litecoin has been really struggling as of late with us continuing to push down following this descending channel, one positive we have seen is that we have broken up into the upper half of the channel, but we still can't seem to breakout! We could be looking at a breakout sooner than later, looking at the bollinger bands we seem to be also stuck underneath the midline which as of right now acts as resistance, if we are going to move anywhere to the upside we need to see a strong push above this level and sort of target that top band so we can take it for a ride upwards. The MACD looks to be coming to an end of this current bearish cycle we see the blue MA pushing upwards looking for that bullish cross, i figure we will see this in the next couple days but we have to watch for a healthy histogram and healthy separation in the MA's! The Wavetrend aswell seems to be coming out of its little bearish cycle, we are seeing the wave starting to push back up, but we definitely still have some work to do like making sure we can fully cross that midline without any hold ups! Overall looking pretty good for LTC which tends to lag behind the rest of the market, looking for a breakout in the coming days/weeks! Not financial advice just my opinion!
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