LTC Channel - possible inverse relationship with BTC

4 hours Chart
Currently in Channel



would suggest a break above the thick red line level (around 43 Mark) may form a strong breakout

My reasons
1. Break out of both resistance line and trend line
2. RSI and Stoch directions up
3. Strong inverse relationship to BTC the last 2 days
4. Fundamentally, one of the most discussed long ideas on trading view the last one week

target would be around the 48

Please do your own research

Ordre annulé:

Break out followed by large volume bar that refused to result in big price shift.

With BTC going up this trade seems unlikely for now

Commentaire:

Keep an eye and consider reopening