Several things pop out at me on this weekly chart of LTCBTC on Bitfinex.
1) Its current range bound between .013363 as support and .025052 as resistance.
2) The MA and MACD show a slight divergence. The Pink 30 MA is rolling above the Blue 50 MA which is bullish, but the MACD has had a bearish crossover since March 26th which is bearish. The good news for the bulls is that it seems to be coming to an end and if that is true, then there is an uptrend in the MACD Starting since 12/2017.
3) The 7 MA is coming down and will hit the moving addresses in one or two more weeks. It has served as support and resistance lately in 2018. We will see if it can find support this week.
4) A potential H&S could be formin if LTC gets back up to .02 but then falls right back down to the .015 level.
5) As of late, the ranges have been getting tighter and tighter and the most crucial levels I am currently looking at are .015675 and .018562. A break and close on either side would probably send us to the next levels.
6) This week is an inside bar at the moment, which shows the range is getting even tighter.
I am neutral at the moment solely off the weekly chart. Perhaps the Daily will show us something more.
1) Its current range bound between .013363 as support and .025052 as resistance.
2) The MA and MACD show a slight divergence. The Pink 30 MA is rolling above the Blue 50 MA which is bullish, but the MACD has had a bearish crossover since March 26th which is bearish. The good news for the bulls is that it seems to be coming to an end and if that is true, then there is an uptrend in the MACD Starting since 12/2017.
3) The 7 MA is coming down and will hit the moving addresses in one or two more weeks. It has served as support and resistance lately in 2018. We will see if it can find support this week.
4) A potential H&S could be formin if LTC gets back up to .02 but then falls right back down to the .015 level.
5) As of late, the ranges have been getting tighter and tighter and the most crucial levels I am currently looking at are .015675 and .018562. A break and close on either side would probably send us to the next levels.
6) This week is an inside bar at the moment, which shows the range is getting even tighter.
I am neutral at the moment solely off the weekly chart. Perhaps the Daily will show us something more.