LTC Channel - possible inverse relationship with BTC
4 hours Chart
Currently in Channel
would suggest a break above the thick red line level (around 43 Mark) may form a strong breakout
My reasons
1. Break out of both resistance line and trend line
2. RSI and Stoch directions up
3. Strong inverse relationship to BTC the last 2 days
4. Fundamentally, one of the most discussed long ideas on trading view the last one week
target would be around the 48
Please do your own research
Currently in Channel
would suggest a break above the thick red line level (around 43 Mark) may form a strong breakout
My reasons
1. Break out of both resistance line and trend line
2. RSI and Stoch directions up
3. Strong inverse relationship to BTC the last 2 days
4. Fundamentally, one of the most discussed long ideas on trading view the last one week
target would be around the 48
Please do your own research
Order cancelled:
Break out followed by large volume bar that refused to result in big price shift.
With BTC going up this trade seems unlikely for now
With BTC going up this trade seems unlikely for now
Comment:
Keep an eye and consider reopening