LTC In Depth 4hr: Bears are nipping at the bulls heals.

15 de abr. de 2019

The 4 hr has me weary of the bear because they are nipping at our heals. A meme of a bull climbing a rope with bears biting at him from below comes to mind. The RSI sitting at 43 after bouncing off 30. We held our last resistance before going back into the channel (wicked below resistance to the channel boarder twice). MacD appears to be rejecting the bear cross but we need another candle or two to make the determination here. We have a very high risk entry opportunity for bulls here which I will not be taking unless the hourly is showing oversold and even then there risk than reward because there is more resistance then support in our close ranges. bulls also have the 12 and 26 MA to break through which I speculate will reject the current green candle based on the volume we are seeing. Not looking good here for the bulls but I would be opening shorts here if I could looking for the drop back into the channel.