TradingView
Box1515
Nov 10, 2017 3:53 AM

Descending triangle on the 15m 

Litecoin / U.S. dollarBitstamp

Description

LTC went ultra-bullish earlier today, but came hurtling back down from our old nemesis of $67. A descending triangle has formed on the 15m since then and we're about 2/3 of the way through - the point at which these usually break down if they're going to do so. EMA/SMA cross and MACD all point towards further downward movement. RSI puts us into oversold territory, but I find RSI to be incredibly unreliable when it comes to rapidly moving trends in crypto. If the triangle breaks down, I'm expecting the fall to halt around the $62 mark.
Comments
erisoft
Nice catch
More