The LTC/USD chart shows a falling wedge pattern that intersects with the uptrend line from the November 1st to December 7th, 2017. As Litecoin continues to consolidate on price it will trend slightly lower for the rest of the week with a potential breakout any time between now and January 31st, 2018. If the long term uptrend line shown is not supported, we may seek lower consolidation around $150, but I personally anticipate a reversal to a strong bull market. As the wedge pattern continues, I am optimistic for a bull run with strong potential for a new all time high in the near future.
Comment:
Movement still within wedge - watching for volume increases over the weekend.
Comment:
The pattern has broken out of the wedge and is making healthy gains. I am holding on to my original prediction for a bull run, but we will need a few more days to confirm the reversal. There are a rsistance levels around 180-185 and 200, but with any momentum, those will be easily covered. BUY.
Trade closed: target reached