nagihatoum

LTC LTF equilibrium pattern

Short
COINBASE:LTCUSD   Litecoin / U.S. Dollar
Currently price action is in a holding pattern called equilibrium pattern which similar to a symmetrical triangle. This pattern is neutral and favors no breakout direction. But looking at the indicators, I see more bearishness than bullishness. The OBV is tightening indicating a move soon, and the RSI is trending down and below 50%. I superimposed the September fractal which resulted in the breakdown of its equilibrium pattern.

In case it break up, the likely target is previous support and the resistance of the channel.