BCryptological
Long

LTC pump about to begin

COINBASE:LTCBTC   Litecoin / Bitcoin
Litecoin last broke above the critical 21EMA on 24th May 2019, resulting in a move up of more than 50%. Today we broke decisively above it once again - massively increasing the likelihood that we will ride it as support for another pump against BTC . The target? This is likely to be the 200 Moving Average, although it is far from a foregone conclusion, with it providing both exceptionally strong and remarkably weak support over the past three months.

  • Should the 200MA provide resistance, LTC could potentially move up 30%.
  • Should the 200MA prove weak LTC could easily pump 50% as it did the last time it moved above the 21EMA.

However, any trade should be entered with a strict stoploss, since dropping back below the 21EMA is always a possibility - especially with conflicting Stochastic RSI between the daily and weekly timeframes.

Here is the link for my free EMA/SMA indicator, offering key areas of potential strong support & resistance .

Also save crucial space on your Trading View chart by utilising my free RSI and StochRSI indicator which overlays both in a clear and helpful fashion.


Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
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