jbutler7

Momentum slowly shifting to the Bulls

COINBASE:LTCUSD   Litecoin / U.S. Dollar
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Another LTC update on my last chart:

I've been watching LTC very closely. We now have our first official MACd cross on the daily chart since last year! We have gotten close so many times but it bounces off the zero and goes bearish again. The only thing missing now is VOLUME! Resistance will be very strong at 175, and at my trendlines drawn above price. If we break 175, that signals a long term uptrend by forming a higher high. We slightly broke bearish below my previous bullflag support line, but not by much. BTC also was showing signs of a bull flag , and it broke through a little bit deeper, but still is holding. Maybe my lines weren't the best, but I'd stand by 'em.

Looks like we formed a higher low on the RSI as well. So that combined with the RSI and my (somewhat weak) bull flag , that is why I say the momentum is slowly shifting to the bulls. We haven't had another drop back to support at 100, so we are getting really cozy with the resistance line rather than bouncing lower to support. It's still a possibility though, we are not out of this yet. Stay cautious, DYOR, don't take my fin. advice (because that's not what this is), and #paywithlitecoin!!!
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