LTC Technicals Look Promising
LTC has been digesting it’s large move from December for a few weeks. It is coming to the end point of the pennant at the same time it’s nearing the 50 day moving average. All HEALTHY bull markets take time to digest large moves and it is a sign that the “bubble people” may have to keep waiting for their prophecies to come true.
Look for a break out to the upside and a possible retest of the upper end and support level at 280.
The RSI is holding steady near the 50 level. Staying above the 50 level confirms LTC is still in a bullish zone.
This is the best post on Steemit. I gave you a vote now, ya heard?
Thanks for the kind words. Much appreciated. Loud and clear :)
I guess LTCUSD will move the same direction with BTCUSD, but with higher velocity. LTC is more risky to trade.
By the way... LTC did not do the next big pump after the 300$ leap - it could happen if BTC is in uptrend
I think we’re likely to see most coins make a big move after this latest brief pullback. It’s nice to get some buying opportunities again now that everything isn’t so overbought anymore