LTC vs USD: Friday 11th May 2018 Daily Technical Analysis [BTFD]

LTC vs USD: A pinbar on daily resting right on a fib level gives us a interesting setup combined with stochastics which has dipped into oversold territory.

👀 Traders should be mindful to MAs on their current trajactory look set to cross, ableit sideways with a potential sine wave like oscilation of price during weekend trade heading into a upside swing next week.

With price action currently trading below the 29/9 MAs and a reverse pinbar candle, a reversal seems highly probable.

A bullish run to the resistance around the $181 level could see further upside given more inflow to BTC as many traders enjoy using the fast confirmation and low transfer costs of LTC as a conduit for inflows to enter or leave BTC markets.

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Disclaimer:
Please note that the above information is for educational purpose only and is not to be taken as investment advice. Other Cryptocurrencies are available.