LTC seems to have taken over the dictatorial mood of the market from BTC in the last one month as the green flag in the market in the last 24 hours has been spear headed by LTC. With the bears approaching, will LTC also lead the market down into a pool of blood? Or will BTC save the day? Time will tell.....
With the bull break out of bull flag on the daily time frame, the bulls strength appears to have been challenged at the .0150 resistance area. Will the bears take over from here, or will the bulls push further? We keep our fingers crossed as the bulls and bears battle it out from supremacy within this area.
On the Bullish Perspective:
Volume is pretty strong in this area, and momentum is pretty very strong as well. I expect a little more resilience from the bulls to push price up further to the .0156 resistance area before relenting. Though the .0150-.0156 has a cluster of resistance, so I expect some difficult moment for the bulls withing this area.
On The Bearish Perspective:
Bearish Div on RSI
Stoch over extended above the 80% level
Strong Resistance at the. 0150-.0156 area.
Failure to break above the present resistance area, I expect to see an immediate strong reversal. My down side target is in the area of the green rectangular box below at the .618-.786 fib retracement area of .010-.087 Price levels.
It's been a long ride upward move for LTC, and I think it's time for a strong pull back to cool off the this little bubble before the normal steady ride upwards. Let's see what happens in coming weeks or months.
With the bull break out of bull flag on the daily time frame, the bulls strength appears to have been challenged at the .0150 resistance area. Will the bears take over from here, or will the bulls push further? We keep our fingers crossed as the bulls and bears battle it out from supremacy within this area.
On the Bullish Perspective:
Volume is pretty strong in this area, and momentum is pretty very strong as well. I expect a little more resilience from the bulls to push price up further to the .0156 resistance area before relenting. Though the .0150-.0156 has a cluster of resistance, so I expect some difficult moment for the bulls withing this area.
On The Bearish Perspective:
Bearish Div on RSI
Stoch over extended above the 80% level
Strong Resistance at the. 0150-.0156 area.
Failure to break above the present resistance area, I expect to see an immediate strong reversal. My down side target is in the area of the green rectangular box below at the .618-.786 fib retracement area of .010-.087 Price levels.
It's been a long ride upward move for LTC, and I think it's time for a strong pull back to cool off the this little bubble before the normal steady ride upwards. Let's see what happens in coming weeks or months.
