Short post--
Based on my analysis LTC has just about reached a local top again so I have entered a short position. I think we will see a test of 400 because of hype and round number psychology.
However, I see a huge RSI divergence on the weekly chart, daily chart and every hourly chart down to 1h.
Let's see how it pans out. My price target is in the 240's. If that doesn't hold we may cool off for the summer months in the 140's (weekly EMA support as well as big 2019 resistance) until a big ol' move in the fall.
The last weekly divergence like this one was in 2017 with a local high of 96 and a fall back down to the 30s. Then we all know what happened after that. If I'm correct, then we are in the "96" range of the pattern.
Good luck folks! Hope we all make some money.
Based on my analysis LTC has just about reached a local top again so I have entered a short position. I think we will see a test of 400 because of hype and round number psychology.
However, I see a huge RSI divergence on the weekly chart, daily chart and every hourly chart down to 1h.
Let's see how it pans out. My price target is in the 240's. If that doesn't hold we may cool off for the summer months in the 140's (weekly EMA support as well as big 2019 resistance) until a big ol' move in the fall.
The last weekly divergence like this one was in 2017 with a local high of 96 and a fall back down to the 30s. Then we all know what happened after that. If I'm correct, then we are in the "96" range of the pattern.
Good luck folks! Hope we all make some money.
