ltc/btc

1d chart

Commentaire:

So, we have a massive triangle building up on LTC/CNY with a 1 wk bband squeeze: imgur.com/a/2mRoo …there is no more room in this triangle so it should resolve within the next week or two. In terms of LTC/BTC, the bad news is that we fell below my pink danger line of support (drawn from the double bottom on the 1 wk chart), but we have reached support from the descending black trendline (drawn from the most recent highs on the 1 week chart).

If you take a look at this 1d chart...we are very oversold (also on the 3d and 1 wk as well!), we have a bullish div forming on the MACD, and we are due for a reversal either here or if the black trendline breaks—then at the next level of support .0048-.005. So, taking the above into consideration--coupled with the pressure building up on LTC/CNY, the moon is still very much in sight but keeping a close eye on that triangle.