smilingllama

smilingllama

Nothing more than playing around with the monthly log and heikin ashi candles to show the trend better. Pure hopium speculation... Until we see some green on this time frame my inner bear is still winning. Both RSI and Stoch are still pointing down as well, which indicates to me that we aren't out of the current downtrend just yet, despite all the bulls on...

smilingllama

Looking at the LTC chart with Heikin Ashi candlestick pattern, we can see the trend much clearer, and things are looking good with a strong uptrend, all green candlesticks with high wicks, which indicates the trend is currently strong. However, I don't think we are completely out of the down trend just yet, price needs to make a higher high on the daily before...

smilingllama

Especially as we are approaching a key resistance level, RSI divergence, and a decrease in volume, could mean a big drop... (i do hope i'm wrong on this!)

smilingllama

price drop coming

smilingllama

This looks to be a very key resistance level for Litecoin right now, if we can breakthrough then i would expect a retest of this line as new support, then a breakout. Interesting to see how this plays out...

smilingllama

More divergence on Litecoin, indicating a price drop very soon?

smilingllama

Focusing on just one indicator for a while can really increase your skills with that indicator, and refine them to the point that these things become very easy to spot. Look how both times the divergence led to a price drop.

smilingllama

Interesting to see we are approaching a key level on the RSI on the daily.

smilingllama

Two key levels here for BTC, and it will be interesting to see if we can close above level one on today’s candle. I will be bullish if we can close above level 2, the current trend line suggests we could be heading that way, but expect strong resistance from level 2.

smilingllama

Bitcoin hourly chart, showing clear RSI divergence, the price then did start to drop.