A Look at LTC/BTC on the Weekly.
--Steady uptrend since Dec 10th reversal from .00680 sats.
--- Uptrend for 10 out of the last 13 weeks.
---Bull cross on the weekly around Feb 19 with the 12 period EMA shooting above the 25 period EMA
---Tested and rejected the 12 period EMA in late Sep, and late Nov; broke through it on Dec 31st but was rejected on high volume the first week of Jan. Starting the second week of Jan we saw4 weeks of consistent upside with a definitive break above both EMA's on high volume the first week of Feb. The next two weeks pullback looked healthy and now we have solid continuation.
---RSI at 69 and climbing on the weekly chart. Looks bullish but we are entering oversold territory and BTC's refusal to gain 4k and hold it makes me extra cautious in terms of the whole market. In short, sentiment appears to be shifting but BTC's anemic price actiohttps://www.tradingview.com/chart/X8yaAewV/n makes me think the bear market is not yet over.
--- Uptrend for 10 out of the last 13 weeks.
---Bull cross on the weekly around Feb 19 with the 12 period EMA shooting above the 25 period EMA
---Tested and rejected the 12 period EMA in late Sep, and late Nov; broke through it on Dec 31st but was rejected on high volume the first week of Jan. Starting the second week of Jan we saw4 weeks of consistent upside with a definitive break above both EMA's on high volume the first week of Feb. The next two weeks pullback looked healthy and now we have solid continuation.
---RSI at 69 and climbing on the weekly chart. Looks bullish but we are entering oversold territory and BTC's refusal to gain 4k and hold it makes me extra cautious in terms of the whole market. In short, sentiment appears to be shifting but BTC's anemic price actiohttps://www.tradingview.com/chart/X8yaAewV/n makes me think the bear market is not yet over.
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