LTC Analysis

٥ يوليو ٢٠١٨

Looking at the chart, the middle kelt has acted as resistance the last few days. Long wicks above the kelt, but closes below. Today looks like another close below with a test of the lower kelt looking imminent. If you zoom out to the weekly, LTC has dropped below the lower kelt, and that is now acting as resistance. I intend to scale in with a successful hold of the lower kelt, roughly $76, or I will go long if we close above the middle kelt on the daily, and will increase my position with a close above the lower kelt on the weekly. For confirmation I will be looking for a higher low on the RSI & OBV. The crypto markets may be due for a run, however nothing has really indicated that the bearish sentiment is over, and it could be more sideways action below $100 for LTC.