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
@fallingsafe, Yeah, volume on Bitcoin since the bounce from 11k is not looking great either
ceptions
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@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!:)
SammyNoden
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@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?)
BerlinTrader591
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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