Taking a look at the four hour chart, we can see that LTC has just closed under the 200 EMA (purple line,) for the first time since November 7th. It now appears to be testing the bottom side of the 200 EMA, to confirm it as resistance, before heading down to the next target of $150. The sell volume is also increasing, further supporting the projection of a continuation to the downside. Personally, I am waiting until I see a supportive candle, with a bullish MACD crossover, before adding to my LTC position.
-Jeremy D-
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Your MACD crossed @20:00:00. Well, it just kissed it. Technically it did cross though. What do you think?
osakaboy
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@osakaboy, MACD cross on 4 hour chart is barely there. Not aggressive at all. Also on both the 5 minute chart if you use 5,8,13 MA the price has dropped back to the 8 and even the 5 has sharply turned. LTC is going to go back down.
osakaboy
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@osakaboy, and we have confirmation by very nice bear candles on the 5 minutes chart.
jkw
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Thanks for the TA. Keep us updated :) Cheers!
TimDeleeuw
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Still feel that LTC doesn't get what it deserves. Sad! I'm out since the little 300 pump just before X-MAS. Wonder when to get in again and to bring it at 500+, where it belongs!