Things are looking very bullish for LTCBTC pair.
The weekly RSI is about to make its first higher high since December 2018. If the RSI closes the week at these levels or above, according to the fractal, ıt should have no resistance a head until 50.
The RSI is a front running indicator and it works best on weekly scale. As we have seen in the previous cycles, the price followed the RSI's higher high with few weeks delay. I am expecting a higher high on the price chart soon. A small retrace to the break out point will eventually follow but it will be short lived. Once the weekly RSI is above 50, the momentum will increase, the bots will urge buying like there is no next day. No need to worry about the daily/hourly etc. price actions. Keep an eye on the RSI closure this weekend.
Finally, the LTC/BTC pair is above 20 Weeks Simple Moving average. This is critical area. Remember what happened after the previous price closures above 20WMA.
This is not a financial advise. Trade safe.
The weekly RSI is about to make its first higher high since December 2018. If the RSI closes the week at these levels or above, according to the fractal, ıt should have no resistance a head until 50.
The RSI is a front running indicator and it works best on weekly scale. As we have seen in the previous cycles, the price followed the RSI's higher high with few weeks delay. I am expecting a higher high on the price chart soon. A small retrace to the break out point will eventually follow but it will be short lived. Once the weekly RSI is above 50, the momentum will increase, the bots will urge buying like there is no next day. No need to worry about the daily/hourly etc. price actions. Keep an eye on the RSI closure this weekend.
Finally, the LTC/BTC pair is above 20 Weeks Simple Moving average. This is critical area. Remember what happened after the previous price closures above 20WMA.
This is not a financial advise. Trade safe.