LTCBTC - getting to the pointy end
Updated
Can we see a push up from here and how far?
Lets face it, litecoin has been in a downtrend since April 2019.
Last push up was Dec/Jan.
On the weekly chart it is under all moving averages.
It has formed a massive 392day downward wedge, which could indicate a strong reversal. (downward wedges are normally bullish but like anything can break down).
We also have a slight bullish rsi divergance, occuring from the start of the last push. We have since retraced back 100% a double bottom (bullish).
Could possibly see it drop further to test the bottom of the wedge or hopefully we have a nice breakout. One to keep an eye on.
Like always do your own due diligence.
Lets face it, litecoin has been in a downtrend since April 2019.
Last push up was Dec/Jan.
On the weekly chart it is under all moving averages.
It has formed a massive 392day downward wedge, which could indicate a strong reversal. (downward wedges are normally bullish but like anything can break down).
We also have a slight bullish rsi divergance, occuring from the start of the last push. We have since retraced back 100% a double bottom (bullish).
Could possibly see it drop further to test the bottom of the wedge or hopefully we have a nice breakout. One to keep an eye on.
Like always do your own due diligence.
Note
The run of btc, pushed ltc to break down and break the wedge.Although the weekly candle we are on is still open, it is currently sitting back inside.
BTC dominance is getting higher nearly 70% which is crushing most alts.
Note
Nearly a month later and this is still valid (weekly chart).Just press the arrow on the right of chart.
We did drop out of the wedge by 10% or so, it got bought up with a nice wick to the downside. Possibly some big players trying to get in on the bottom floor.
There is only 2 weeks left so we should see a decent move up happen shortly.
It could let us down with a break down or just more sideways.
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