carltonzone

LTC Breaks Lower Base Line - Downtrend Not Over?

Long
BITSTAMP:LTCUSD   Litecoin
As you can see in my picture, the bottom support line of my nice triangle has been violated. It looks like a knife was stuck straight through, making a big hole. That's not a good thing. If this is an indication of a lower support level hiding beneath this triangle pattern, we're in for a long ride before the impending run-up. This Bear market is no joke. Red across the board. It makes for great buying opportunities, but buying at the bottom is turning out to be quite an evasive task.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.