Sherem
Long

LTC, Massive Inverse Head and Shoulders?!

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Guys, check it. Is this a MASSIVE Inverse head and shoulders forming? If we break this dotted purple line I drew, we are going up to 105 in a hurry. We should get a pull back from there and then another massive rally after that.

LTC has by far been the strongest crypto in recent months in terms of movement. Watch this $65 area,if it breaks we are going up in a hurry. I will be selling at the 105 area and resetting light ladders down to 70, most of my entry being around 70 for the retrace.

Watch carefully, we could get some major moves here soon. This timing also coincides with our ETH timing as well, which is good.

Happy trading and hodling,

-Sherem
The left shoulder looks more like consolidation to me, and does not form a trough (rounded shoulder) which is necessary for it to be called a left shoulder IMO. For the right shoulder to form a trough, the price needs to reach the neckline then drop dramatically and then retouch the neckline a few weeks later. Had the left shoulder and right shoulders been troughs, then this figure would look more like a proper H&S.
+2 Reply
interesting
+1 Reply
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