LTC ratio just did a strong bearish TK cross while trading below the BB basis. After narrowing for a short period of time, the BBs are opening up -- price to the downside. Given the short period of BB squeeze, this shouldn't be that much of a drop for LTC.
@tusila, Good reasoning. Bad call! Looks like we got a pump going on. About the colors, I was working with a dark theme, and I really liked it at first, but it might have worn out on me already. lol Sorry about that! =/
Romeoneo
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@simpelyfe, of course the pump was destined to happen... because we're having a breakout of ABCDE correction, mate! Good luck charting! ;)
The pattern usually doesn't break the trendline like that. I'm actually kind of leaning towards bull trap as this could be a fast move to .0142 if it is a trap. However, we are in an alt coin bull -- you can question my sanity for calling a bear when everything is going nuts.
Romeoneo
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@simpelyfe, not exactly, mate! The wave A must start at the beginning of your B mark. I dunno about LTC/BTC chart, but the USD chart looks exactly like a bullish ABCDE triangle...