BitcoinMedusa

No Relief For Shorts

BTCE:LTCUSD   Litecoin / Dollar
47 0 0
This channel of price from 15.727 through to 16.490 (see perforated blue lines) has had numerous patterns develop in all the smaller time-frames. We watched the name attempt a potentially gorgeous descending head and shoulders off of a couple reversal candles, BUT, here we are again at these higher prints. For those not so easily frustrated and hell bent on a pull-back (like yesterday) may want to dig a little deeper, talk to some other chartists too, and get a hold of this channelling business. It is a little hard to take price when the 8SMA is the prop or crutch. Sincerely, Beauty
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