Short term short opportunity has presented itself in the form of a SHS
pattern, which formed as a result of the recent upswing in price and volatility
. Neckline to peak measurement suggests we could retest $42.29 (.236 fib level). However, I believe that support at the $44 level will hold, and serve as a base to continue the climb upward. Based on LTC's past trading patterns, we could see a new trading channel forming between $45 and $55. My overall sentiment for this market is bullish
, and I suspect a retest of the ATH
by week's end.
Disclaimer: Do not base your investments off of my TA alone, do your due diligence and make your own decision.
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