croleyjon

The Daily Show with LTC

COINBASE:LTCUSD   Litecoin / U.S. Dollar
So, it has been a few days and we have seen some consolidation occurring. For me I want to be bullish on LTC and I really do not want to see it drop below 100. However, action on the 4H is just not cutting it. We need to see a break above the 55 EMA and a green candle close. Surprisingly, that would just require a push to the 119-118 mark.

But here is the challenge :
1. RSI is above 50 on the 4H but about to test it. If it can't hold we drop and go bearish .
2. Volume is not on the side of the bulls
3. Overall trader sentiment is we are going to drop below 100.
4. The lower time-frames have work to do, specifically the 4H.
5. BTC             ....

My desire is we do not drop now, but go sideways till late June. That is when the long-term trend line will be above 100.

Not advice, just my opinion.
Comment: Hodl on to your knickers. What a wild time last night and today. LTC has got above the the 119-118 mark and I am now waiting for a green can too close above the 55 EMA on the 4HR.
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