LTCUSD has tested the historical support trendline on 16 December. A second test of the trendline is possible but we will use that as a dip buying opportunity if and when it happens. Keeping in mind that LTC and BTC usually bottom around the same time, BTCUSD might have also bottomed.
LTCUSD Weekly RSI suggests that a mini dip may be in the cards next week or so. However, we cannot rely on that possibility to fill our bags, hence, currently buying every dip. Stop loss place is obvious. somewhere under the trendline .
On the adverse side, the violation of the historical trendline support plus touching the Adam & Eve neckline indicated on the chart will be extremely bearish . We are disregarding this possibility at this stage leaving it to a later evaluation paying close attention to the volume profile of the re-test when/f it happens.
This is not a financial advise.
LTCUSD Weekly RSI suggests that a mini dip may be in the cards next week or so. However, we cannot rely on that possibility to fill our bags, hence, currently buying every dip. Stop loss place is obvious. somewhere under the trendline .
On the adverse side, the violation of the historical trendline support plus touching the Adam & Eve neckline indicated on the chart will be extremely bearish . We are disregarding this possibility at this stage leaving it to a later evaluation paying close attention to the volume profile of the re-test when/f it happens.
This is not a financial advise.