BerlinTrader591
Long

LItecoin Reverse Head and Shoulders

KRAKEN:LTCUSD   Litecoin / U.S. Dollar
This Litecoin reverse Head & Shoulders Pattern resembels others
like XMR and DASH.

If one breaks out, I think they all break out to the upside.

In Litecoin, if we pop over the neckline at 280, then I think we have exstended upside to the 161.8% retracement of the head at 331. Then the measured move of the head at 366

The trade:
Long over 280
Target 1: 331
Target 2: 366
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@BerlinTrader591
Thanks for sharing it!
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I can dig that, however volume is looking rather weak.
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jesus360 fallingsafe
@fallingsafe, Indeed
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SammyNoden fallingsafe
@fallingsafe, Yeah, volume on Bitcoin since the bounce from $11k is not looking great either
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ceptions SammyNoden
@SammyNoden, A beginner wanting to know, but what info can I get from looking at the volume? What does the volume say about the value etc? Thanks in advance!:)
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SammyNoden ceptions
@ceptions, Basically, the stronger the volume, the more reliable the trend. If prices are rising and volume is strong, the market is very bullish. Conversely, rising prices with low volume shows uncertainty or could even be a bearish signal (Where are all the buyers? Where's the confidence in the trend?)
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@SammyNoden, yeah volume was pretty weak. in the stock market, you can't really rely on volume anymore, but old school volume still works in bitcoin
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