alanmasters
Long

Litecoin Descending Channel Break | What Happens Next?

BINANCE:LTCBTC   Litecoin / Bitcoin
Litecoin ( LTCBTC ) just broke out of a descending channel , at the same time prices are now above EMA100.

Seeing how the other TOP altcoins are behaving, it is likely that we will see Litecoin grow as well.


What happens next?

  • If prices can remain above EMA100 or 0.005915, we can see the bullish scenario (green arrows) quickly develop.
  • But if prices drop and close below EMA50 or 0.005840, we can have further retrace.

The RSI is really strong and we have bullish divergence with the MACD .
We are leaning green/ bullish on this one LTCBTC .

This is not financial advice.

Namaste.
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Comments

do you think about LTC trending continue ?
Reply
Hi Alan, is this invalidated now?
Reply
I agree, once again. Great stuff Alan
Reply
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