We can see here on the 1 day chart of the ltc/eth pairing that we have a golden cross and an obvious cup and handle set up. Probability favors a bullish break upward above the rimline but you want to wait for 2 consecutive 1 day candles above the rimline to confirm the break because a fakeout is always a possibility even with a golden cross...if we break upward I have posted the expected price target here in the green box. The question is if the breakout does occur will LTC make its gains on ETH by ltc going up or eth going down
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I have never analyzed this pairing before but this setup was too good not to comment on.
I didn't even know LTC could be traded with ETH ! I'm happy to see that LTC is in a good posture for a good rally ! LTCUSD and LTCBTC looks also bullish. Let's see what happen next ;)
DrDovetail
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@DAT34, Yep on Binance and Bittrex. Keep in mind though not to get to excited about this until we have a triggered the pattern above the neckline with not just 1 daily candle close but a 2nd consecutive candle close above the neckline with bullish volume for confirmation. I've seen multiple cup and handles end up being fake outs.
DAT34
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@DrDovetail, Yeah no worries I'm not gonna trade LTCETH it's just a bonus chart for me, already got my LTCEUR position. Anyway would be beautiful if your pattern idea goes right ! cheers
DAT34
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LTC's departure is imminent, looks like your chart is about to make it !
grimelord
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noticed this the other day as well. interested to see how it plays out