CRYPTANALYSIS - HOUSE VIEW ON KEY ALTCOINS

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72. TECHNICAL ANALYSIS: LTCBTC (Published: 08th Nov, 2017)

Analysis

  • LTC/BTC surged 10% today, but it was moving too fast
  • Both RSI and Stochastic indicator show overbought signals when the price moves to the 24H high above 0.009 level
  • It suffers a severe correction immediately, while the next support level would be the 0.008 level
  • Price could rebound there and test 0.009 again

Suggestion

  • Wait for a while until RSI and Stochastic indicator reach the lower threshold, which indicates that the correct might be ended
  • At that time, price would be around 0.008, which can be a good long entry when more confirmations for a rebound is shown

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