Jump’s Analysis: LTC/BTC Testing it’s Current Trend

Looks like it had a retracement almost touch the top resistance on 0.0185 satoshi and retrace sharply toward latest trendline at present time.

Indicators:

– DMI, DI+(bullish strength) is getting closer with DI-(bearish strength) indicate a bullish momentum is began to weakening. ADX (momentum strength) is above 25 which quite good momentum for which ever momentum is supporting currently.

– MACD, Macd line is already create a bearish signal indicate a switch of momentum is beginning, also a seller histogram is appear.

Key point:
– Keep an eye for the fibonacci line, SMA and EMA line as it’s could be a potential resistance and support in near future.
– In order to keep the bullish trend in tact for long term, these 2 up trend line must be hold (yellow line) for bullish trend to be maintaining.
– Each arrow sign is a possible scenario of movement price action if each line (trend line or fibonacci line) is broken.
– If the price action drop below these 2 up trend line would be major pull back is potentially would happen or bearish for LTC/BTC for quite a while.
– Vertical line is a date when halvening of Litecoin would happen.

This analysis was submitted by Jump

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