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.
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.
