balocik

LTC - falling wedge pattern.

COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTC/USD is forming falling wedge pattern.

All in place:

**Price Trend** — Can be any direction leading to formation.
**Shape** — Price follows two down-sloping and converging trendlines .
**Touches** — Price should touch channel at least 5 times - 3 touches one side and 2 touches of the opposite side.
**Volume** — Trends downward 72% of the time.
**Breakout** — Can be up or down however 68% of times is upward. Breakout happens usually 58% of the way to wedge apex.
**Confirmation** — Pattern become valid once price close outside of channel.
**Price Rise/Decline** — On average 32% up (upward breakout) or 15% decline (downward breakout)

Credit - Thomas N. Bulkowski


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This information is not a recommendation to buy or sell.
Comment: Touching support line
Comment: Wedge broken downwards
Comment: LTC/BTC broke massive rising wedge on daily chart. Be ready for drop to continue.
Comment: Back to the wedge. False breakout.
Comment: Touching resistance line. We are exactly 60% of the way to wedge apex - place where breakout usually happens.
Comment: Wedge broken.Now let's see if LTC reach oyr target 227$
Comment: Bullish flag
Comment: or early H&S
Comment: H&S turned to be descending triangle

Probably LTC going down
It could reach $227, but only if BTC allows it to happen. But if BTC goes down, so wil LTC. Don't you agree?
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balocik MarkH99
@MarkH99, I agree as BTC rules that market
Reply
What level is almost impossible to break?
Reply
balocik Dieter1983
@Dieter1983, 0$ really hard to break. :)
Reply
Dieter1983 balocik
@balocik, I can imagine :0)
Reply
balocik Dieter1983
@Dieter1983, 95$ will be hard to break.
Reply
YES! THANKS BALOCIK! You always keep promises! 6k BTC! YES YES YES!
Reply
balocik XenoBiologist
@XenoBiologist, G20 tommorow. Apparently not a good news for crypto.
Reply
@balocik, Would you please give me your opnion? What's the extreme bottom for btc? I was thinking something like 4,5k
Reply
balocik XenoBiologist
@XenoBiologist, The extreme bottom for BTC is 0$
Reply
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