Sherem
Long

LTC Inverse Head and shoulders update

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Folks, per my last update, I was anticipating we would move sideways, and we are indeed doing that to form this right shoulder.

Watch for a break of $65. If we break that with conviction we will be going higher.

Happy Trading and Hodling,

-Sherem
Comment: Last analysis:
Comment: Been flirting with $65, getting close already.
Comment: Looks like we have been moving sideways as anticipated. We'll see how long we go. If we go as long as the left shoulder, we'll be here for 2-3 monthsish.
Agree. A close above 65 is the key level. Weekly chart looks ready to dump this rally but we won't know until it happens. Best of luck.
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This is not an Inverse H&S
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Sherem ydrama
@ydrama, Not yet.
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Hopium :-)
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Sherem Szabi84
@Szabi84, With the kind of action we have been getting, I don't think we need to hope for very much longer (like 1-2 weeks) but this is crypto you never know
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@Sherem, I completely disagree with that. I think what we see is nothing else but a relief rally after the local lows in December and yes litecoin has shown the strongest signs of maybe we are out of the bear
market but Btc and all the top coins show no signs of that kind. Its nothing else but consolidation with rapidly decreasing volume and with every try Btc is strongly rejected from the 4k ranges. LTC on the daily showing enormous bearish divergenceif you have a look. Come April we will at least see a reversal to the lows we saw last year and i fear even lower. Its difficult to be bullish if bitcoin cant even retest the weekly EMA 21. But this is just my view. Thanks for your analysis anyway.
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Sherem Szabi84
@Szabi84, you sure? :-P
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@Sherem, Even more so now :-)
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