Looking over the LTC / USD one hour chart shows LTC is still hanging on. We are right on the top of the downward channel and touching. The RSI is showing that towards the 60 - 70 range during the last month that it tends to give around there. As well the bollinger bands are contracted so we will see a movement one way or another soon! Stay tuned!
If we do see a drop to the bottom of the channel we will run into a monthly upward channel that has extended sense 2016. Ltc looks to be duplicating the same formation from a couple of years ago and thus the upward channel bottom support is around $10 give or take. Then we might see a boost to the $50 area around the halfing point for LTC in August of this year. I want to get in at $5 - $10 and HODL for the coming months.
I am very much a beginner and just want to make observations and learn from them! My simple analysis is for fun and learning, please do not make trading decisions based on my observations - like I said I am just a beginner.
Thanks so much for reading my analysis, please follow me and like my post!
- Max K.
If we do see a drop to the bottom of the channel we will run into a monthly upward channel that has extended sense 2016. Ltc looks to be duplicating the same formation from a couple of years ago and thus the upward channel bottom support is around $10 give or take. Then we might see a boost to the $50 area around the halfing point for LTC in August of this year. I want to get in at $5 - $10 and HODL for the coming months.
I am very much a beginner and just want to make observations and learn from them! My simple analysis is for fun and learning, please do not make trading decisions based on my observations - like I said I am just a beginner.
Thanks so much for reading my analysis, please follow me and like my post!
- Max K.