Dog Days of Summer: Bearish Short-Term, Bull Long-Term
See chart above for TA, below are a few comments:
LTCUSD pairing could take Path 1, supporting indicators include:
- Daily hammer formed 29JUL
- Stoch RSI is indicates that the pairing is oversold
LTCUSD pairing could take Path 2, supporting indicators include:
- MACD is deeply bearish
- Bearish divergence on volume since 16JUN upswing
- Looming SHS pattern.
I lean more towards Path 2. I will note that the $33 to $34.50 price range should provide some base support.
I am bullish on the long-term for this pairing, but some development news will be needed in order to help continue this uptrend.
LTCUSD pairing could take Path 1, supporting indicators include:
- Daily hammer formed 29JUL
- Stoch RSI is indicates that the pairing is oversold
LTCUSD pairing could take Path 2, supporting indicators include:
- MACD is deeply bearish
- Bearish divergence on volume since 16JUN upswing
- Looming SHS pattern.
I lean more towards Path 2. I will note that the $33 to $34.50 price range should provide some base support.
I am bullish on the long-term for this pairing, but some development news will be needed in order to help continue this uptrend.
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