Litcoin's relative price against Bitcoin weakening
Updated
The LTC price breached a crucial resistance against Bitcoin and the relative price against bitcoin seems to be weakening. The overall trend line also seems to confirm the same trend. We can still wait at this point partially to see how the trend spans out in the subsequent days. If there is a jump above the crucial resistance line pointed out the prediction will be invalidated and we might have to observe how the new position looks like. But at this juncture I still see the relative price headed down south till it reaches the oversold territory where at that point there might be a minor bounce.
The strategy at this point is partially sell, and re-enter if there is an upward movement. Otherwise the next buy zone will be when RSI indicator reaches the over sold zone.
Please note that the trade calls are the authors opinions based on technical analysis and hence readers are requested to do their own in depth study before investing.
The strategy at this point is partially sell, and re-enter if there is an upward movement. Otherwise the next buy zone will be when RSI indicator reaches the over sold zone.
Please note that the trade calls are the authors opinions based on technical analysis and hence readers are requested to do their own in depth study before investing.
Trade active
The predicted trend seems to be active at this point and its in the range marked. Not a great ROI in terms of the overall ratio with BTC and investors are better off at hodling BTC.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.