LTCUSD So far so good needs Bitcoin to break above 7735 next to
LTCUSD Weekend Update
So far rhe break above the pennant top has gone about 3%
but fallen short of the first resistance line at 124.73 by 60
pips and more which is frustrating right now.
The break high was bang in-line with Bitcoin's break above
9450 at the same time as Europe opened up for the weekend
and rally in both was about the same in % terms.
The 124.75 level here is as important to the near term as the
7735 level is to Bitcoin. Both levels need breaking soon for the
day's rally to maintain momentum through the day. The longer
both languish below them the more wary we need to be.
However whilst Bitcoin itself holds up at 7600 there's no point
in closing any longs now. But that view will have to change if
Bitcoin is sold back much below 7600 again from here.
11:49gmt 06:49est Friday LTCUSD Litecoin
Another Alt which has come back to major support and is
looking poised for a good break higher if Bitcoin will oblige
later.
Right now it's in a little continuation or pennant pattern -
again waiting on Bitcoin
So far rhe break above the pennant top has gone about 3%
but fallen short of the first resistance line at 124.73 by 60
pips and more which is frustrating right now.
The break high was bang in-line with Bitcoin's break above
9450 at the same time as Europe opened up for the weekend
and rally in both was about the same in % terms.
The 124.75 level here is as important to the near term as the
7735 level is to Bitcoin. Both levels need breaking soon for the
day's rally to maintain momentum through the day. The longer
both languish below them the more wary we need to be.
However whilst Bitcoin itself holds up at 7600 there's no point
in closing any longs now. But that view will have to change if
Bitcoin is sold back much below 7600 again from here.
11:49gmt 06:49est Friday LTCUSD Litecoin
Another Alt which has come back to major support and is
looking poised for a good break higher if Bitcoin will oblige
later.
Right now it's in a little continuation or pennant pattern -
again waiting on Bitcoin