From my previous LTC/BTC that i made on June 11 2019.
--You can zoom in and out with ctrl+scroll middle mouse---
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.
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.
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.
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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