Structural Resistance|Market Structure Change|Volume Increase
Hello Traders!
Welcome to another update,
Today’s chart will be on LTCBTC which has broken key levels negating the market structure. LTC is probable to reach higher levels before a bullish confirmation of the POC.
Points to consider,
- Trend change in fruition
- Major resistance broken
- EMA’s holding price
- Stochastics in upper regions
- RSI hitting resistance
- Volume increase
- POC bullish retest
LTCBTC trend change is coming to fruition as a new higher high is being established from local lows. Major resistance has been broken, a much staunched level that was confirmed with a bullish re-test.
EMA’s holding price as support must hold true for a continued bullish bias upon retests of key levels. RSI is trading at resistance; a return to neutral territory is probable in the near future.
Volume has increased visibly, confirming breaks of key structural levels; LTCBTC needs to sustain such volume for continuation in trend.
Overall, in my opinion, LTCBTC has clear levels to watch and break. A retest of the POC will be healthy as it will cool of indicators such as the RSI and Stochastics before another leg up.
What are your thoughts?
Please leave a like and comment,
And remember,
“You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.” ― Yvan Byeajee,
Welcome to another update,
Today’s chart will be on LTCBTC which has broken key levels negating the market structure. LTC is probable to reach higher levels before a bullish confirmation of the POC.
Points to consider,
- Trend change in fruition
- Major resistance broken
- EMA’s holding price
- Stochastics in upper regions
- RSI hitting resistance
- Volume increase
- POC bullish retest
LTCBTC trend change is coming to fruition as a new higher high is being established from local lows. Major resistance has been broken, a much staunched level that was confirmed with a bullish re-test.
EMA’s holding price as support must hold true for a continued bullish bias upon retests of key levels. RSI is trading at resistance; a return to neutral territory is probable in the near future.
Volume has increased visibly, confirming breaks of key structural levels; LTCBTC needs to sustain such volume for continuation in trend.
Overall, in my opinion, LTCBTC has clear levels to watch and break. A retest of the POC will be healthy as it will cool of indicators such as the RSI and Stochastics before another leg up.
What are your thoughts?
Please leave a like and comment,
And remember,
“You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.” ― Yvan Byeajee,