The light coin is rising in wedge form.
i think, If there is no further decline in Bitcoin, it is a possible Target.
Also, LTC is an AltCoin that is not greatly influenced by BTC.D
DXY showing some seller exhaustion here we are attempting another breakout of a wedge that we have been stuck in for about a year.
We have some classic bullish divergence on both the RSI and MACD weekly.
Along with the divergence we closed last week above the bottom trendline with a Bullish Pinbar which is a bullish candlestick reversal pattern commonly found...
Nice consolidation within a symmetrical triangle / wedge . Ready to break.
A break to the upside would give us a first potential target of 46.50 usd +
Wait for confirmation before entering as it could also break to the downside.
One concern: the 200 MA is quiet far.
But I'm leaning slightly bullish based on the Tenkan support (Blue line-Ichimoku).
Few USD pairs have picked up some momentum, and USDZAR certainly is shaping up for the continuation.
Latest price shows us a descending channel reversal, and we see a LTF bullish impulse, breaking out.
The confirmation here would be to wait for a continuation correction on the LTF for entry to the next swings high area as a potential...
+ Infrastructure stimulus bill is coming as Biden Administration comes in 2021
+ Democrats got the blue wave
+ bullish falling wedge
+ more announcement of the infra plan and bills are yet to come
+ $CAT and $X among the main beneficiary
- this name has been running up recently and RSI is hot
This analysis is purely based on price action and Chart Patterns.
The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days.
Reliance is forming falling wedge pattern but it is not breaking previous lows & making higher lows. It can be a signal of bottom formation as well.
Trade logic with SL and Target is explained in...