Litecoin made a bearish break of the triangle but no big drop happened and so far the former support is getting tested. It is almost starting to look like a false breakout even. If the bulls can break that red resistance on right chart, it will be a first confirmation of that false break out. Still nog seeing the volume to confirm all this though. I have been accepting that volume in general is lower but i want to see at least a volume candle that is higher that the average of the past weeks. That trend line already broke, which is a very good sign. Because yesterday it got rejected but the bulls did not give up and made another attempt and the first important step has been made now.
When we look back at my previous analysis, my assumption was that a break of 50.0ish would be very bad. The 50 broke but we have not seen follow through. We can also see that the price bounced up again from the same level of 2 months ago, a level i thought of being a bear trap level.
Update when you can buddy making a break as I type
Boss_Coyote
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Handles forming
Boss_Coyote
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Can we call this a possible cup and handle ?
botje11
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@Boss_Coyote, Is we stay above the 51ish, than yes it could be
vivekmessikumar
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hi mr @botje11 please have a look at ETP
looks like a better short than LTC
would really love ur opinion
botje11
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@vivekmessikumar, Honestly, ETP had an extreme fake pump a few months ago, i have decided NOT to touch this alt. I believe it is getting manipulated extremely. Many of my members have tried to short this one, even though i warned them about it. I have burned my fingers a year ago on these things as well, while i was still new to crypto. So i really do not want to give an opinion on this alt, sorry