Long

LTCUSD - Long on weekly

Has had an interesting 2019 already having a 7x move from ~20 to ~140. Now at ~60 there appears to be another momentum change approaching on the weekly chart.

First notice that the forecasted MAs suggest a 50 over 100 weekly crossover sometime at the end of the year. This would follow a forecasted crossover for BTCUSD with the same MAs by about a month to two later, which seems to be common for Alts to follow BTC movements.
Next, the Smoothed RSI (public library indicator) shows that RSI may be changing momentum with a trend shift as the Smoothed RSI line has flattened. Even a small move the rest of the week will likely change the direction of the trend.
Also, the MACD is losing ground against the lowering signal line. Put simply, momentum on this indicator seems to be slowing down for bearish movement.
Finally, the Stochastic RSI is tempting to leave oversold levels that have been in the oversold area for an extended period of time.

Personally, I feel this a valid time to accumulate given the very bullish news around crypto and blockchain technology in general in the last few days. I plan to hold for a while as the ratio is very low vs. BTC, see: . I'm a very firm bull on but also believe that LTC is at a low ratio, and with great signals for a potential trend change vs.USD.

DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.

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