altwatch100

Possible Litecoin movement over the next couple of weeks

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Good ol' Litecoin, doesn't stick to the rules. Alas, this is a possible setup for the next couple of days, with a few nice swing trade opportunities. In the short term, it's likely that we'll see a small bump to retest the middle BB, especially as the stoch resets. I don't think this will be much of a reset and I doubt we'll hit the oversold area as buying pressure and volume is low. I think we could see the ~$136 support a couple more times in the coming week, until we get squeezed out of this descending wedge . I'm confident we'll break out upwards and possibly see the $170 - $180 region, before coming down into more blood and sideways consolidation. After that, we'll have to exit the overall, long term wedge one way or another, but after skirting along the long term support and forming multiple higher lows, I wouldn't be surprised if we make a strong move upward, and return to $200+ levels.

Thanks chaps, do your own DD             and happy trading!
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