Can we see a push up from here and how far?
Lets face it, litecoin has been in a downtrend since April 2019.
Last push up was Dec/Jan.
On the weekly chart it is under all moving averages.
It has formed a massive 392day downward wedge, which could indicate a strong reversal. (downward wedges are normally bullish but like anything can break down).
We also have a slight bullish rsi divergance, occuring from the start of the last push. We have since retraced back 100% a double bottom (bullish).
Could possibly see it drop further to test the bottom of the wedge or hopefully we have a nice breakout. One to keep an eye on.
Like always do your own due diligence.
Lets face it, litecoin has been in a downtrend since April 2019.
Last push up was Dec/Jan.
On the weekly chart it is under all moving averages.
It has formed a massive 392day downward wedge, which could indicate a strong reversal. (downward wedges are normally bullish but like anything can break down).
We also have a slight bullish rsi divergance, occuring from the start of the last push. We have since retraced back 100% a double bottom (bullish).
Could possibly see it drop further to test the bottom of the wedge or hopefully we have a nice breakout. One to keep an eye on.
Like always do your own due diligence.
Comment:
Nearly a month later and this is still valid (weekly chart).
Just press the arrow on the right of chart.
We did drop out of the wedge by 10% or so, it got bought up with a nice wick to the downside. Possibly some big players trying to get in on the bottom floor.
There is only 2 weeks left so we should see a decent move up happen shortly.
It could let us down with a break down or just more sideways.
Just press the arrow on the right of chart.
We did drop out of the wedge by 10% or so, it got bought up with a nice wick to the downside. Possibly some big players trying to get in on the bottom floor.
There is only 2 weeks left so we should see a decent move up happen shortly.
It could let us down with a break down or just more sideways.
Although the weekly candle we are on is still open, it is currently sitting back inside.
BTC dominance is getting higher nearly 70% which is crushing most alts.