$LTCBTC - Chart Update | #bitcoin #litecoin #LTC #BTC
Since producing this chart on January 03rd, 2014, this chart remains predominantly bearish, despite the tendency for price to keep pace with its momental line (see blue arrows underlying the predominant support line).
Internal weaknesses in this LTCBTC relative strength chart have predominated the picture since January 07th, implying a strengthening of BTC.
On its own, BTCUSD (see our recent postings) has turned into a bullish player among the arena of crypto-currencies, with targets eyeing new structure highs (more on the BTCUSD as that chart evolves on its own).
OVERALL:
Note also the looking overhead resistance offered by the red dashed line. Whether price evolves into the recess of the developing wedge or quivers into a rally, the dominant directional bias remains bearish at this point. More on the cryptos as we look closer into the BTCUSD chart this week.
Cheers,
David Alcindor | 4xQuad.com
- Volunteer TradingView.com Moderator
Since producing this chart on January 03rd, 2014, this chart remains predominantly bearish, despite the tendency for price to keep pace with its momental line (see blue arrows underlying the predominant support line).
Internal weaknesses in this LTCBTC relative strength chart have predominated the picture since January 07th, implying a strengthening of BTC.
On its own, BTCUSD (see our recent postings) has turned into a bullish player among the arena of crypto-currencies, with targets eyeing new structure highs (more on the BTCUSD as that chart evolves on its own).
OVERALL:
Note also the looking overhead resistance offered by the red dashed line. Whether price evolves into the recess of the developing wedge or quivers into a rally, the dominant directional bias remains bearish at this point. More on the cryptos as we look closer into the BTCUSD chart this week.
Cheers,
David Alcindor | 4xQuad.com
- Volunteer TradingView.com Moderator