LTCBTC Bearish Divergence

8 Mar 2019

LTC is showing pretty textbook bearish divergence on the 1 hour and SHOULD dump soon (or else I will question divergences as a reliable indicator). Both RSI and AO are showing the divergence, making me more confident that it will happen. Typically in the past, I have aimed for the low value where the bearish divergence began as a target for the correction, which is around 0.01330. Another possibility if it overshoots this value is about 0.01330 which was a previous resistance that could be turned support. Finally, this could be the end of LTC's run up, and if both of those are passed then we may go considerably lower, I just wanted to put those both as possible bounce spots. Very clear divergence though, and I'm fairly confident that this will play out.