LTC/BTC is Breaking out of its Downtrend

LTC/BTC looks like it is breakout of its downtrend. This is just one of many BTC and USD pairs that is showing strength here in late January 2020.

I am making the statement above based on variations of moving averages. In this case specifically I’m using Alpha Bot System’s custom indicators, but could just as easily use something like a super guppy.

You can check out my chart here:

As you can see in the chart above, we have clear long signals (represented by the color green and breaks above the custom lines; each of which are representative of complex versions of moving averages formulas with a few additional variables) for the first time since the first half of 2019. We know the first half of 2019 was bullish, and it looks like we have recently entered into a new bull trend here in 2020 for not only BTC but for some BTC pairs.

A simple observation, but we can see truth in this across the board as crypto rallies into February.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

Leave a comment

We'll never share your email with anyone else.