- After it's downfall, seems LTC/BTC consolidating around 1.236 fibonacci line and if it's remain holding there's i expect a potential bounce from that level.
- Orange line ( fibonacci sequence x 1.618), yellow trend line and short term fibonacci white line considered a potential support and resistance in short future
- Indicators is extremely bearish/oversold and still no sign of decreasing it's momentum. Still i expect a potential bounce around recent fibonacci level or toward next yellow trendline. vertical line is date of the halvening for Litecoin
Indicators :
- DMI : -DI (seller pressure) is skyrocketed althought if it start to pause it's movement to upside and +Di (buyer pressure) is decreasing. ADX (momentum) is relatively strong (above 25)
- MFI : is currently oversold level and it's looking to trying it's way to bounce.
- MACD : MACD line is moving so fast toward bearish side, seller histogram still building up it's momentum.
Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
Comment:
nice recovery on LTCBTC
- A sudden bounce from 1.272 fib line with an impulse movement toward resistance that previously as a support on 0,0112 satoshi. If it's break and have a consecutive closes candlestick.. It's a good sign for bullish trend for this chart. conversely, fail to reach above the resistance i still expect a consolidation between fibonacci line before could start another attempt to break it's current resistance.
- Although overall trend is still in bearish trend. Indicators seems trying to break it's bearish trend for a moment as it's try to reverse the trend.