quantguy

Litecoin Dragon Head Breakout

Long
BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Litecoin looks like it is consolidating further after the retracement it suffered with the rest of the crypto market. It looked like an inverse head and shoulders was forming, but this now looks to be a flag. Either way, it appears to be the fourth and final stage of the dragon head pattern, and we should see a breakout after this. The fourth stage is characterized by ranging which may last another day or so. Watch for support below at $117. After we break out, $141, $151, $167 and $186 are all profit targets.
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