As we can see the downtrend between the trading pair of BTC LTC dipped before it got better. It went down in the .01550 level and now is back up into the .01600's The Charts show a channel that broke the down trend and is setting for a small channel up for a tight run. Hopefully that was the bounce and we are heading upwards towards .01700 -.01800 like the sideways channel has been indicating before this little drop.
I would be looking to enter an uptrend when the market signals undersold and reenters normal trading and sell when it hits oversold and then reenters for both the MFI and RSI. This will signal a solid buy oppertunity and a solid exit. BUt we have to see if this is a strong enough channel to start the march upwards. The thigh channel signals to me that it may need to bounce on it's way upwards if the Bulls can drive LTC or the trading pair up.
Happy Trading. Good Luck.
I would be looking to enter an uptrend when the market signals undersold and reenters normal trading and sell when it hits oversold and then reenters for both the MFI and RSI. This will signal a solid buy oppertunity and a solid exit. BUt we have to see if this is a strong enough channel to start the march upwards. The thigh channel signals to me that it may need to bounce on it's way upwards if the Bulls can drive LTC or the trading pair up.
Happy Trading. Good Luck.