Edgy_

LTC turned into an Ascending Triangle!

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Watch out folks! LTC is further tightening. After talking to my mentee Murat today (we have analysed the current breakout potential with LTC, and how to play it according to statistics/where to trigger/set stop loss/take profit), we have come to the conclusion that it turned more into an Ascending Triangle now, if you discount the ugly wicks on the Daily. We have always higher lows, but the same ceiling at $140.

The breakout case is clear guys: Should we break this range, and very important -should BTC break the $10k. - we would have potential for a solid 30% upmove to $180. Should BTC reject at the important 10k, it will probably be hard for LTC to move that much higher, and we could even see a bear break out of the current triangle.

=> So, decision coming soon. There is not much space left for tightening.

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Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.

Comments

what are you think about ltc\btc?
Reply
Edgy_ just5
@just5, should see some bounce
+3 Reply
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