Just wanted to put out a quick snapshot on LTCBTC .
Currently, looking at the DMI, the -DM and the +DM have touched and tried to cross 3 times recently, but it has failed to do so signaling failed attempts to break out. All the while the has stayed relatively low showing there is not really a trend going on here. If you look on the we can see we are producing lower lows and still trending in an upward motion while the price continues to drop. This can signal a when the is holding above it's prior low while the price is moving to new lows. These tend to be more robust after an oversold reading which is what we saw on 3/2 on the chart.
SO, by looking and analyzing the DMI and the we can see that even though the price is dropping at the moment we are still showing signs of strength, and our support line is holding.
IF LTCBTC were to fall below this support line we could head south quick, but if we hold here we could see a nice bounce back up to the next support/ resistance line of around .0195. Also, keep an eye on the , if we fall below our most recent low or below the this could be a signal as well.
If you wanted to take the risk you could buy with setting a stop loss just below the support line. However, waiting to see if we can break above the support or below to confirm which direction we are headed is ultimately be the best move for now.
Any and all comments are welcome!
Happy Trading :)
***This information is not a recommendation to buy or sell***