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Haceru
Dec 26, 2017 2:41 PM

LTC - head and shoulders Long

Litecoin / U.S. dollarBitstamp

Description

The same formation like BTC thus I expect the right shoulder to form just before the Bitcoin`s hard fork on the 28th however I think it will be at a lower level than the left one (maybe around $320).

Comment

Few hours later we are at the "battle" point between the uptrend channel and the resistance at $284. If it breaks out successfully, it should follow the channel up to the desired target. Some volume wouldn`t hurt either :)

Trade closed: stop reached

Price fell under $250, meaning going way down.
Comments
Trades999
Good analysis, but we just broke the triangle downwards.

Haceru
@jelmerrr, looks that way indeed ... let`s see
dkerm
After the big dip, do you think it will bounce back to $250's?
Haceru
@dkerm, one step at the time ... not sure if this shoulder will happen in the first place :)
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