Liftoff Eminent for LTC

18 thg 8, 2017

We've pretty much touched both upper and lower boundaries of our price wedge today and we will be breaking out shortly. Given the atmosphere of crypto in general I can't see us breaking down at this time because LTC is so out of favor already but I've been wrong before and it will happen again. I think the most interesting thing about this chart is that the DI+ set it's high in March, and while price continued up, it declined. I think it looks like flagging action, as ADX and DI+ both sit below 20 the breakout could start a powerful new uptrend. What I really like though is that nice stochastic crossover we are getting right now. It's not really low enough to facilitate the requirements of stochastic buy program, but coupled with bouncing off the RSI uptrend I think we are at a nice bottom right now.

If I'm wrong, I believe we will see flagging on the bottom trend line which will be my signal to sell. Of course, if price or RSI break their uptrend I'm gone as well but will continue to look for spots to buy as opposed to sell here.