The breakout happened on the symmetrical triangle. However, we are far from out of the woods. Sure on the 4HR we broke out above the trend line, but on the daily we are still under the trend line.
The RSI needs to stay above 50-40 to confirm bullish sentiment. But looking at the price action, it looks like we are prepping for a fall.
I did play this bounce, but I am still mostly USD at this point. I want LTC to breakout, but as long as it stays above the 100 usd line I am content. My end result is to accumulate LTC for long term holding.
Lets see what the coming hours have in store.
Not advice, just my opinion.
The RSI needs to stay above 50-40 to confirm bullish sentiment. But looking at the price action, it looks like we are prepping for a fall.
I did play this bounce, but I am still mostly USD at this point. I want LTC to breakout, but as long as it stays above the 100 usd line I am content. My end result is to accumulate LTC for long term holding.
Lets see what the coming hours have in store.
Not advice, just my opinion.
Comment:
Will we bounce off the .618? We are nearing an important first test of this move.
