PRICE ACTION
LTC, which is normally a leader in this cycle, is sitting – waiting – for someone else to make a decision. After a strong 2.88% bounce on the 4H chart, most of that move has fallen away over the last 20 hours, due to a lack of volume.
The 1D chart is, however, showing a green candle which should excite bulls after most of this week being bearish. These bulls need to remain cautious though as the 1D RSI is only just coming back off the boiling hot 86 peaks from last week.
Look for a 4H or higher TF close below $85 to confirm the bearish sentiment.
OPEN INTERESTS (BITFINEX)
Long: 1.29 Days
Short: 0.64 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 100, 145, 175
Support: 80, 69 (52W MA), 69 (28D MA)
PREVIOUS ANALYSIS
LTC, which is normally a leader in this cycle, is sitting – waiting – for someone else to make a decision. After a strong 2.88% bounce on the 4H chart, most of that move has fallen away over the last 20 hours, due to a lack of volume.
The 1D chart is, however, showing a green candle which should excite bulls after most of this week being bearish. These bulls need to remain cautious though as the 1D RSI is only just coming back off the boiling hot 86 peaks from last week.
Look for a 4H or higher TF close below $85 to confirm the bearish sentiment.
OPEN INTERESTS (BITFINEX)
Long: 1.29 Days
Short: 0.64 Days
RELATIVE STRENGTHS
- Micro (5m): Flat
- Short Term (4h): Hidden Bullish
- Mid Term (1D): Overbought
- Macro (1W): Strong
ON BALANCE VOLUME
- Mid Term (1D): Higher
- Macro (1W): ATH
KEY PRICE AREAS
Resistance: 100, 145, 175
Support: 80, 69 (52W MA), 69 (28D MA)
PREVIOUS ANALYSIS