LTCBTC has been on a downtrend since around the 18th of November 2019.
The downtrend has continued until a major support floor has just been hit and the price is consistently rejecting of this support floor, demonstrating signs of accumulation.
The Absolut Strength indicator has already crossed to favour buying momentum and strengthening a long bias.
I am waiting for a break above the now resistance level 0.006125. Once this level is broken and retested on a smaller timeframe I will enter long.
Take profits will be as follows:
- 61.8%
- 78.6%
- 0.007345
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