Trying to move, but lacking steam
LTC is desperatly trying to make a move out of the falling wedge it's been trading in the last 2 months, but I fear it is lacking momentum.
By hopping on the BTC ride yesterday, we saw a nice bump in the volume, but it can't seem to keep that up today.
The good side is that the price is slowly moving up, to test the downtrend again and RSI is still close to the oversold region.
The bad side is as said, lacking momentum and it is trading in the upper region of the Bollinger Bands.
Also no picking up on the volume when it touched the EMA 25, which it has followed nicely in the past.
Though I am hopeful that the bulls are getting ready to run, the bears still have the upper hand at this moment.
I'm not a financial advisor, I will not take any accountability for any losses on your behalf.
Otherwise, happy hunting.
AndyN
By hopping on the BTC ride yesterday, we saw a nice bump in the volume, but it can't seem to keep that up today.
The good side is that the price is slowly moving up, to test the downtrend again and RSI is still close to the oversold region.
The bad side is as said, lacking momentum and it is trading in the upper region of the Bollinger Bands.
Also no picking up on the volume when it touched the EMA 25, which it has followed nicely in the past.
Though I am hopeful that the bulls are getting ready to run, the bears still have the upper hand at this moment.
I'm not a financial advisor, I will not take any accountability for any losses on your behalf.
Otherwise, happy hunting.
AndyN
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