It is looking like we are about to have::
A golden cross with the 200 and the 377 MA's
OBV is still forming HH HL while the previous ATH "resistance" on OBV has now been back tested and flipped to support on the macro tf
We have continued expanding bullish volume overall on the previous large pumps - a sign that demand is increasing
I'm flat, not trading this yet
I would like to see up to around 140 and a back test of the 118-122 area (confluent with previous R2 pivot and a macro resistance) for a nice entry considering that LTC is pretty over-extended right now
This could possibly be a free ride up to around the 175-185 area which is also confluent with the R3 pivot - Note we do not have confirmation of this yet
I do have a bearish scenario from here as well, but being that this uptrend so far has been quite strong and momentum today / recently is continuing bullish, this is the scenario I am paying more attention to at the moment
A golden cross with the 200 and the 377 MA's
OBV is still forming HH HL while the previous ATH "resistance" on OBV has now been back tested and flipped to support on the macro tf
We have continued expanding bullish volume overall on the previous large pumps - a sign that demand is increasing
I'm flat, not trading this yet
I would like to see up to around 140 and a back test of the 118-122 area (confluent with previous R2 pivot and a macro resistance) for a nice entry considering that LTC is pretty over-extended right now
This could possibly be a free ride up to around the 175-185 area which is also confluent with the R3 pivot - Note we do not have confirmation of this yet
I do have a bearish scenario from here as well, but being that this uptrend so far has been quite strong and momentum today / recently is continuing bullish, this is the scenario I am paying more attention to at the moment