Pivotal Point for this 4 Year Reliable Litecoin Trading Pattern
I'd suggest checking out my previous post. In it you will see how the Inversion of the 50 Day SMA to the upside, has been a reliable predictor of a larger surge higher. This has occurred 11/11 times the 50 Day SMA has inverted higher, since the start of 2017.
We have witnessed a slight inversion but have not seen significant follow through, being the Ratio rapidly rising in Litecoin's favour. Without a rise over the next few days, we will see the 50 Day flatten out. Both breaking a reliable trading pattern. Also likely forecasting another month in this wedge.
I believe it is currently more probable to see a move to the upside. If we see a flattening of the 50 Day SMA or tilt lower. I believe that the the risk in this trade goes from Low (currently) to medium. A break down from the wedge, would be very bearish. We would be back into HODL territory.
We have witnessed a slight inversion but have not seen significant follow through, being the Ratio rapidly rising in Litecoin's favour. Without a rise over the next few days, we will see the 50 Day flatten out. Both breaking a reliable trading pattern. Also likely forecasting another month in this wedge.
I believe it is currently more probable to see a move to the upside. If we see a flattening of the 50 Day SMA or tilt lower. I believe that the the risk in this trade goes from Low (currently) to medium. A break down from the wedge, would be very bearish. We would be back into HODL territory.
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Great to see LTC hold up on another test on the lower end of the triangle.
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Test on lower end of Wedge still underway
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Successful Test of support. Risk gone from high-mid toward mid-low for trade.
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Looking like a breakout coming within the next month. High Litecoin Transaction Volume, New Network Upgrade incoming and ideal technical setup.
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