Some chartists are claiming that LTC on HTF is forming a cup and handle. This is hard for me to see because the bottom of the cup is jagged. It is more fitting that price action is following harmonics and channels which I denoted.
This idea follows a previous idea that $67 LTC is possible.
Currently it seems price is bound in a descending channel which many claim is the handle of the cup and handle formation. The cup and handle will give a measured move to $800 I claim that LTC will reach anywhere between $1000 to $2000.
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idea still valid, last weekly candle was bearishly engulfing.
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Idea still active, price will test channel support between 60 and 70.
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price broke through channel support and tested $50. I need to re-evaluate the next moves.