LTC Long Call Analysis
LTC Long Call Analysis
As is visible from the chart, the current movement is respecting the grey pitchfork medians rather too well. All the recent movement, except for the short terms dips below $130, has occurred in the resistance band between $130 and $133.9. If the price breaks below the pitchfork median on the H1 TF, a drop to $130-31 is certain.
From a bullish perspective, the lower grey median had been test 2 times so far, and has held up well enough. If the resistance level of $133.9 is broken and held on H2 TF, one can safely expect a prolonged bull run for at least the next 2-3 days. The point of intersection of the lower going trendline and the grey pitchfork medians, at around 4 PM UTC, would surely be a climax point and the judge of whether trend reversal is taking place or not.
For the time being, support levels are well held, with a gradually increasing volume, all but pointing to the fact that the bulls aren't sleeping.
As is visible from the chart, the current movement is respecting the grey pitchfork medians rather too well. All the recent movement, except for the short terms dips below $130, has occurred in the resistance band between $130 and $133.9. If the price breaks below the pitchfork median on the H1 TF, a drop to $130-31 is certain.
From a bullish perspective, the lower grey median had been test 2 times so far, and has held up well enough. If the resistance level of $133.9 is broken and held on H2 TF, one can safely expect a prolonged bull run for at least the next 2-3 days. The point of intersection of the lower going trendline and the grey pitchfork medians, at around 4 PM UTC, would surely be a climax point and the judge of whether trend reversal is taking place or not.
For the time being, support levels are well held, with a gradually increasing volume, all but pointing to the fact that the bulls aren't sleeping.
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