The Litecoin Relative Strength Continues (Technical Lesson) $LTC
I said a few weeks ago in multiple posts that I was expecting LTC to lead us off the bottom. From that igniting bar in early February you can see the strength all the way up and even today. I am going to teach you a lesson of Relative Strength. Check out the chart below.
You can see the igniting bar and the trend that started. Notice on the RSI indicator at the bottom how LTC continuously gets “overbought” (RSI>70) and NEVER gets “oversold” (RSI<30). This is an example of a positive and sometimes very powerful trend. This is a very HEALTHY uptrend that I am expecting to continue. Does this mean that it will 100% spike? No. But there is a very good chance that LTC WILL SHOW THE PATH of the next crypto move...
Litecoin price in the past 30 days have been pretty positive with an about +20% gainer
Don't you think there's bearish divergence though? A drop would be actually bullish IMO, dropping to the 200MA and reconfirming higher lows on a clearer swing. After all, we don't want to see a violent SPX-like rally that would only end in confirming lower highs.