LTCBTC going bearish

BINANCE:LTCBTC   Litecoin / Bitcoin
LTCBTC crossed 50DMA on April 21. From previous trends it looks difficult that it can move above that. Also, it is currently holding between .5 and .618. If the .618 level breaks, we might see go down new lows. However, if .618 level holds, we might see some bounce. 200 DMA remains the last line of defence. Once broken it may be long road to trend reversal.

There is some hope for reversal. The volume on this downtrend is low and the mini alt season could pump up volume enough to get . But, that is the trend on LTC, the green candles have high volume while the red candles have low volume but they come in clusters.

Accumuclating alts before the alt season is the best strategy but LTC is not the pick of this season.

May 24
Comment: Still holding that level
Jun 08
Comment: It bounced off from 200 DMA and has now crossed 50 DMA. This is a good revival.
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