LTCUSD Bearish Divergence + Rising Wedge = retest of $50?

Litecoin / U.S. Dollar (COINBASE:LTCUSD)

COINBASE:LTCUSD Litecoin / U.S. Dollar

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Low volume price pumping is causing price to move opposite of RSI and volume , creating a bearish divergence. This, combined with the rising wedge pattern, will likely result in a retest of the support at $50.

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Comments

Doesn't look like it. The last bear divergence when 130,000 GDAX Volume shot up 5 bucks in 3 hours.

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CryptoFortune

@CryptoFortune, Doesn't look like what, bearish divergence? Rising price while RSI and volume fall is textbook bearish divergence. Or did you mean it doesn't look like it will retest $50?

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CryptoFortune

@CryptoFortune, Nope, these guys are hungry! I think we need to let go of the downtrend mentality.

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