LTC 1D 5/13/19: 100 within reach.
Our most recent rally took us all the way back to 100s door step. It is worth noting that the rally was mainly BTCs rally. Alts just got invited to the party. This is important because we had finally started seeing some alts make moves without BTCs permission. Not this time. Bulls should be watching the BTC pairs for their coins though because they are likely at a low. What I expect to happen is BTC to take a break around 8500, everything will consolidate, but LTC/BTC should increase. Getting a bit ahead of myself here.
In any case, RSI is sitting pretty at 67 right on top of what seems to be our bullish support line. A break of this could mean WEEKLY higher low so be ready to take profit if you don’t want to hold through that. MacD shows bulls held and are now gaining momentum. Once we broke our previous descending support I added a new one which we promptly broke as well. Bulls are clearly wanting to push LTC higher. We just had the 13,26,50 moving averages squeeze together as we started this bull run. Same thing happened on BCH but the 200 was also there.
A thought: Halving in August; If I was a miner, I would stop selling the coins I mined leading up to this as there will likely be at least SOME hype rally. I would dump my coins on the rally.
In any case, RSI is sitting pretty at 67 right on top of what seems to be our bullish support line. A break of this could mean WEEKLY higher low so be ready to take profit if you don’t want to hold through that. MacD shows bulls held and are now gaining momentum. Once we broke our previous descending support I added a new one which we promptly broke as well. Bulls are clearly wanting to push LTC higher. We just had the 13,26,50 moving averages squeeze together as we started this bull run. Same thing happened on BCH but the 200 was also there.
A thought: Halving in August; If I was a miner, I would stop selling the coins I mined leading up to this as there will likely be at least SOME hype rally. I would dump my coins on the rally.
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