Yrat

LTC, Battle of Divergences

POLONIEX:LTCBTC   Litecoin / Bitcoin
Since my latest educational post on divergence (linked below) received a lot of attention, I wanted to show a looming battle in LTCBTC . I see both bullish divergence and hidden bearish divergence battling it out to the eventual breakout or breakdown of formation. Who will win?
Comment:
Comment: upwards move, but watch for fake-out.

here is same chart on 12H for closer look

Trade active:
Trade active: hidden bullish divergence all over the shorter timeframes suggesting continuation of new upwards trend... longer 24H timeframe looking like breakout of inverse head and shoulders formation, MACD about to crossover into positive... bitcoin action can always throw off any of these signals.

Comment: looking like we may test the wedge again for support...
Comment: if LTC tests the wedge again as support, watch for bounce and breakout of MACD
Comment: moving the goalposts...
From Feb. 12th there is a 1-5 wave count.On April 4 there is the start of the ABC that ended on April 20. Leg 1 is done and #2 is close to finishing. #3 will be small like on March 14th, then a small #4 up and turn down for #5. This #5 will be a tight squeeze and very compressed . Will LTC get the volume it needs? Just my thoughts, I am new to TA.
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