LTC/BTC has had quite the selloff, however all hope is not lost yet. On the 4Hr chart, there are some signs of life as LTC/BTC makes a weak bounce on the 4Hr Cloud as well as vauge QuantRsi support. The 4Hr Cloud interaction has broken through the bearish side and is signaling that the levels we came from won't be revisited anytime soon... but this could change after some consolidation.
The next trend incident LTC/BTC must cross will paint a clear picture as to whether this dump is over, we go sideways, or if we can find a bullish channel.
The 8Hour has clear signals on the entry and a little late on the exit, showing some weak trend support here:
The trendline that's drawn from the lower high wicks might not be as valid, since the interactions aren't as clear.
On Longer timeframes, the trend has been broken; but this horizontal level is strong.
Weak buy signal on 4Hr QRsi trend interaction & Heffae Cloud path. Heffae cloud violated, QRsi signal still holds, pending next interaction.
The majority of this TA is pointing towards a longer period of consolidation - sideways.
Comentário
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20 minutes after I posted this, LTC takes off! Here is my target for this move:
Trade ativo
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Got in on this pullback. I really like the crossover on QRsi trend as well as price trend-line. This trade could be a candidate for holding awhile, but I still don't like what I see on longer timeframes.