LiteCoin Sings of Bullish Reversal
Updated
LiteCoin (
LTCBTC) is at or slightly below its all-time-low, sitting at a historical support line at 3000 Satoshi. The great thing about this is we're seeing a consistent RSI divergence that has been playing ever since the first time it hit 3000 Satoshi in Feb/March 2017. Every new bottom since then has has higher RSI low. Most importantly, the latest and current level has a higher RSI than all the previous bottoms. At the same time, the volume does not look too weak as is the case with dead coins. LiteCoin seems to have been changing hands or has gone through an extended period of accumulation.
I will keep watching this chart on different time scales in anticipation of a bullish move to the overhead resistance at 7000 Satoshi.
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LTCBTC) is at or slightly below its all-time-low, sitting at a historical support line at 3000 Satoshi. The great thing about this is we're seeing a consistent RSI divergence that has been playing ever since the first time it hit 3000 Satoshi in Feb/March 2017. Every new bottom since then has has higher RSI low. Most importantly, the latest and current level has a higher RSI than all the previous bottoms. At the same time, the volume does not look too weak as is the case with dead coins. LiteCoin seems to have been changing hands or has gone through an extended period of accumulation. I will keep watching this chart on different time scales in anticipation of a bullish move to the overhead resistance at 7000 Satoshi.
Follow me if you would like to receive updates on this idea.
You can follow this chart here.
Note
LTC breaking all-time low and RSI is breaking below line too. Not looking pretty.
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