Today’s chart will be on LTCBTC which has broken key levels negating the market structure. LTC is probable to reach higher levels before a bullish confirmation of the POC.
Points to consider, - Trend change in fruition - Major resistance broken - EMA’s holding price - Stochastics in upper regions - RSI hitting resistance - Volume increase - POC bullish retest
LTCBTC trend change is coming to fruition as a new higher high is being established from local lows. Major resistance has been broken, a much staunched level that was confirmed with a bullish re-test.
EMA’s holding price as support must hold true for a continued bullish bias upon retests of key levels. RSI is trading at resistance; a return to neutral territory is probable in the near future.
Volume has increased visibly, confirming breaks of key structural levels; LTCBTC needs to sustain such volume for continuation in trend.
Overall, in my opinion, LTCBTC has clear levels to watch and break. A retest of the POC will be healthy as it will cool of indicators such as the RSI and Stochastics before another leg up.
What are your thoughts?
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And remember,
“You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.” ― Yvan Byeajee,