LTC/BTC June 17 2019 Retest for Current Trend

in chart •  6 years ago  (edited)

From my previous LTC/BTC that i made on June 11 2019.

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Looks like it had a retracement almost touch the top resistance on 0.0185 satoshi and retrace sharply toward latest trendline at present time.

Here's the chart for LTC/BTC on 1 day time frame for present time.

download.png

Indicators:

  • DMI, DI+(bullish strength) is getting closer with DI-(bearish strength) indicate a bullish momentum is began to weakening. ADX (momentum strength) is above 25 which quite good momentum for which ever momentum is supporting currently.

  • MACD, Macd line is already create a bearish signal indicate a switch of momentum is beginning, also notice a small seller histogram is already appear.

download (1).png

Key point:

  • Keep an eye for the fibonacci line, SMA and EMA line as it's could be a potential resistance and support in near future.
  • In order to keep the bullish trend in tact for long term, these 2 up trend line must be hold (yellow line) for bullish trend to be maintaining.
  • Each arrow sign is a possible scenario of movement price action if each line (trendline or fibonacci line) is broken.
  • If the price action drop below these 2 trendline would be major pull back is potentially would happen or bearish for ltc/btc for quite a while.
  • vertical line is a date when halvening of Litecoin would happen.

Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion and please feel free to share what your thought on comment section.
peace.

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Very good and expert analysis... If you don't mind having it published on https://cointick.net by yourself or with total attribution the way you want. Please do reply

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Thank you for the kind word sir. Sure i could publish it there ..

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