LTC BTC

LTC/BTC

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Click Chart to Enlarge

LTC/BTC

The LTC/BTC ratio is recovering from a sharp sell off in much the same way as last time. The blue candle from yesterday is an unconfirmed reversal, and as you can see the price is above the daily cloud.

 

Since price is right up against resistance it is more safe to enter on a breakout above the trend and to add to the position if a higher low is confirmed after the breakout has a short term retrace.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

May 31 2016

The DAO had a lackluster launch

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Click Chart to Enlarge

The DAO

The DAO had a lackluster launch and is currently consolidating. Price is hovering near the 78% FIB and is more than likely going to go down a bit to at least confirm a higher low. If you are bullish on DAO then this next dip is a key entry point. Bulls are looking for a higher low which finds support above the trend line.

May 29 2016

Litecoin to Bitcoin Ratio

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Click Chart to Enlarge

LiteCoin to Bitcoin Ratio – LTC/BTC

The general sentiment is that LTC is ready to move up again. If so that means BTC should do well too, and based on yesterday’s chart that seems plausible. The LTC/BTC ratio is continuing to show signs of the last bull market. If so then the 3 green rectangles are the potential stopping points. They line up well with the the FIB extension too. Price is currently right up against the top of that wedge. Therefore there is no point on placing a long until the level is broken.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

May 26 2016

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