LTC 1hr 5/20/19: One very bullish sign.

20 May 2019

We have a recent golden cross on the 1 hour. About 9 days ago this led to a 25% run. Unfortunately, this is where the similarities end and the differences begin. Before we were in an uptrend at the end of over a week of consolidation. Our RSI was high at 82 and now its lowish at 43. Our MacD had also bull crossed shortly before our golden cross. This time we need a fair amount of bull volume just to attempt to cross the MacD bullish. So, while its possible we could see bullish price action from this golden cross I will be remaining cautious of our large head and shoulders unless we see at least a few percent of upside movement in the short term. Right now, risk is not favorable to reward in the near term but as you can see by the size of some of our bars, this can shift on a dime. We have the squeeze of ALL moving averages paired with a golden cross which is very bullish but these moving averages could act as MORE resistance