LTCUSD saw a dwontend and started riding the lower Bollinger band
Price volatility was very high. The market moved ~16.15%, between $52.43 and $45.14
Today’s Trend analysis *LTCUSD expected to see an uptrend as the price was riding the lower band with getting support from lower band and Bollinger band expansion *Price at time of publishing: $48.6 *LTC’s market cap: $3.17 Billion *Oscillator indicators are mostly neutral. RSI at 40 in the neutral region *Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral with the Hull MA indicating buying opportunities *Volume indicators saw a decrease with low value for blue candles with a decrease in 20-candle moving average
Price expected to see an uptrend as the price was riding the lower band with getting support from lower band and Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line approaching from below the Signal line, histogram size decreasing in the negative region. RSI at 39, in the neutral region below the midline. CCI at -96, still in the neutral region with an upmove. Another interesting point to notice here is that the volume saw a decrease with low value for blue candles with a decrease in the 20-candle moving average indicating a shift from sellers to buyers. ----------------------------------------------------------------------------------------
The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.
DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.
Note: Above analysis would hold true if we do not encounter sudden jump in trade volume .
Good analysis! Thanks for sharing.. I have a question. Were you think about start using VWAP instead of BB .. In my opinion in VWAP is bigger edge for analyzing :)
Mudrex
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@Asanato, Sure, thanks a lot mate for pointing out! Will check that!