$LTCBTC (#litecoin #bitcoin) - Chart Update
Friends,
On January 02nd, we built this chart first looking at a crunched and long-term perspective. What we are offering for your review are NOT channel lines, but what we, at 4xQuad, have defined as momental lines, which are much more potent, durable influences upon price over time.
In this particular case, we only want to mention the current price behavior along one of these lines, which serves to materialized what would otherwise remain an abstract line concept, yet rather real.
In a recent chart, we highlighted a similar phenomenon, which we felt worthy of note to bring to your awareness, as every trader seeks to make sense of the seemingly erratic pathways.
The blue line has no other purpose than to illustrate what at the time we thought might be a possible price pathway, however, we recommend that you do NOT consider these trading directional biases or suggestion - as with any thing else, "due the do" diligence and trade responsibly.
OVERALL:
Our outlook is firmly BEARISH, as our methodology has defined a bearish reversal confirmation. The lines 0.025 and 0.022 are numerical expressions of the relative strength between Litecoin and Bitcoin, but they also represent areas of probable support.
Cheers,
David Alcindor | 4xQuad.com
Friends,
On January 02nd, we built this chart first looking at a crunched and long-term perspective. What we are offering for your review are NOT channel lines, but what we, at 4xQuad, have defined as momental lines, which are much more potent, durable influences upon price over time.
In this particular case, we only want to mention the current price behavior along one of these lines, which serves to materialized what would otherwise remain an abstract line concept, yet rather real.
In a recent chart, we highlighted a similar phenomenon, which we felt worthy of note to bring to your awareness, as every trader seeks to make sense of the seemingly erratic pathways.
The blue line has no other purpose than to illustrate what at the time we thought might be a possible price pathway, however, we recommend that you do NOT consider these trading directional biases or suggestion - as with any thing else, "due the do" diligence and trade responsibly.
OVERALL:
Our outlook is firmly BEARISH, as our methodology has defined a bearish reversal confirmation. The lines 0.025 and 0.022 are numerical expressions of the relative strength between Litecoin and Bitcoin, but they also represent areas of probable support.
Cheers,
David Alcindor | 4xQuad.com