LTCUSD 4H Chart- Bull run, or will the bears continue to reign?
So we've certainly had an interest couple of days. All signs seemed to point towards a run down, which very obviously was fulfilled. I've been keeping an eye on the 4H charts based off of the EMA 200/50 and we have cross upwards for the first time in roughly 7 days. The way I see it is we have two ways we're going-
1) We continue the pattern of 2/3 day bullish runs and establish a high around the 170-175 mark. Then we head down and test a new low around the 78 range. We will confirm this if the EMA crossover fails in a couple days.
OR
2) We continue our way up in an effort to re-approach highs again. Right now, I'm on the fence as to whether or not I'm long or short, but I think it's worth preparing for one or the other. I will have an update in a day or two as to what I believe is going to be the case. Ultimately, you'll want to be on your toes and keep an eye on the EMA divergence for the time being.
1) We continue the pattern of 2/3 day bullish runs and establish a high around the 170-175 mark. Then we head down and test a new low around the 78 range. We will confirm this if the EMA crossover fails in a couple days.
OR
2) We continue our way up in an effort to re-approach highs again. Right now, I'm on the fence as to whether or not I'm long or short, but I think it's worth preparing for one or the other. I will have an update in a day or two as to what I believe is going to be the case. Ultimately, you'll want to be on your toes and keep an eye on the EMA divergence for the time being.
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After approaching the 175 mark, we've headed down towards 155. I have a sneaking suspicion that we're on our way back down. Keep your eyes open over the next 4-8 hours.
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Got some more confirmation of a retest to a lower region. Keep an eye out on the next day or so, as this may be a bear trap, but something tells me we will be testing the 80 support region.
Got some more confirmation of a retest to a lower region. Keep an eye out on the next day or so, as this may be a bear trap, but something tells me we will be testing the 80 support region.
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We've broken the 135 support line, which leads me to believe that we have a pretty clear shot to the 100/sub 100 zone. It would be wise to set a buy around 105, because there's going to be strong psychological support at 100. If we touch 100 then slowly go back up to the 115 region without mooning out of control (much like the past weekend), then expect a progression down to the 80 region. From there, I would ultimately expect a moon up to about 155, then from there, we may assess whether we're headed down to 50s or not.