This will be a relatively short analysis.
Notice the Inv H&S, with the bottom of the head having bounced off of strong support (pink line) and the following breakout above. Still going in an upward trend. RSI looking bullish. Zooming out to the weekly also makes me incredibly optimistic. LTCUSD could still go down, but against BTC it is looking quite strong. Although, if BTC drops I fear that LTC will drop harder, invalidating these patterns.
Notice the Inv H&S, with the bottom of the head having bounced off of strong support (pink line) and the following breakout above. Still going in an upward trend. RSI looking bullish. Zooming out to the weekly also makes me incredibly optimistic. LTCUSD could still go down, but against BTC it is looking quite strong. Although, if BTC drops I fear that LTC will drop harder, invalidating these patterns.
Comment:
Oh, I forgot to mention that it has crossed above the 50d EMA a while ago. This is also looking bullish as it maintains above it, seeing it was resistance for quite a while, similar to LTCUSD's 50d EMA.
Comment:
WELP that went better than expected XD
I think the fractal that changed this the most was not drawn here, but I see we broke above an ascending triangle today.
I think the fractal that changed this the most was not drawn here, but I see we broke above an ascending triangle today.