LTC breakout

while we all focus on Bitcoin, LTC has broken out of the descending wedge pattern and now heading towards the upper limit of the descending channel.
Notice the favorable Stoch RSI and long term RSI support line. What we need is a little support from BTC hopefully.

Good luck

This is not your financial advice of course,go do your homework.

Comentário:

not a nice candle on the hourly and now retesting the wedge line.

Comentário:

We are still out of the wedge and BBs are getting pinched on smaller time frames,meaning we shall see an action very soon. The direction is bullish biased as per RSI but can go either way.

Trade fechado manualmente:

Thanks to BTC this run is short lived

Comentário:

Such a long consolidation and retesting but we got a great 4hr candle now and might commence on the up move.

Comentário:

such a huge red volume we had but over all picture for me still good.

Here is the daily view:

notice we are at our major support zone again. This support zone has been holding us at this level quite a while now. Yes, each touch weakens it but I will sell my position only i it is broken decisively.

Comentário:

forgot to mention the below is the on balance volume indicator and it shows almost no divergence,maybe a little bulish one actually.

Trade ativo:

next possible buy levels.

RSI support line might be pierced momentarily