Hi guys,
I made a LTCUSD analysis on day-chart for long-term perspective.
We can clearly see that LTCUSD formed a symmetrical triangle and the breakout could occur within two weeks. The ABCDE Elliot wave triangle pattern brings us to say that the breakout would be a great bullish move until $450.
On the OBV chart, we can also notice a symmetrical triangle that indicates a change in volume soon. In the same way as the OBV breakout in December, I think we could have an increase of the volume.
Otherwise, if the breakout fails and results from an increasing volume with sell dominance, we could test $120 support.
Only the future will tell us !
Thank you for reading, comment below to share your point of view ;)
I made a LTCUSD analysis on day-chart for long-term perspective.
We can clearly see that LTCUSD formed a symmetrical triangle and the breakout could occur within two weeks. The ABCDE Elliot wave triangle pattern brings us to say that the breakout would be a great bullish move until $450.
On the OBV chart, we can also notice a symmetrical triangle that indicates a change in volume soon. In the same way as the OBV breakout in December, I think we could have an increase of the volume.
Otherwise, if the breakout fails and results from an increasing volume with sell dominance, we could test $120 support.
Only the future will tell us !
Thank you for reading, comment below to share your point of view ;)
