Looking at LTC 4 hour chart we can see that we are still in the uptrend channel. This market is still bullish and is sitting at the bottom of the channel with the 100 and 200 EMAs just below as support.
I anticipate this area will act as support and serve as a reversal back towards the top of the channel. The $159 has acted as support on 4 occasions in the past 2 months. The Stoch RSI suggests we are primed for a reversal as well. Waiting for confirmation of reversal to enter a long at $157-158 with a stop set just below uptrend channel and 100 EMA. If we breakdown below the uptrend channel + EMAs, will flop and start looking at the potential for shorts.
I anticipate this area will act as support and serve as a reversal back towards the top of the channel. The $159 has acted as support on 4 occasions in the past 2 months. The Stoch RSI suggests we are primed for a reversal as well. Waiting for confirmation of reversal to enter a long at $157-158 with a stop set just below uptrend channel and 100 EMA. If we breakdown below the uptrend channel + EMAs, will flop and start looking at the potential for shorts.