caguillen214
Long

Dip to ~$83 before breaking past ATH | Cup and Handle Forming

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
With the resistance from the all time high, I believe it is likely we see some downward trends over the next two weeks. If we do we're solidifying the formation of the Handle part of the C&H Pattern. Cup and Handles are bullish continuation patterns, so after the dip we're likely to see some rapid growth stopping well above the ATH             of ~$94.

** Comments and critiques always welcome especially contrasting ideas
** @CAG_CryptoTA
Comment: I still personally believe we are topping out on LTC, though there is still room for some short term growth. Although BTC broke through 10k with momentum we need to see how far it holds out. Watch BTC, I feel like in this case the two are linked. LTC will lag behind BTC. We may still see the C&H formation. Great time to take profits, but risky to enter at such a high with such a long time since the last major consolidation.
Can you please update this, thanks!
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Most people seems to buy both LTC and BTC at the same time so if BTC is not going to dip, LTC won't either. What do you think?

Also, people know the $10K is a vital barrier to cross, so I suspect people are holding their BTC to see that come to reality.
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caguillen214 silmaril0875
@silmaril0875, I agree with what you said. I personally think there will be some correction in BTC coming soon. Like you said $10k is a vital barrier and I think even upon crossing it we'll likely see some correction before returning to those prices. Thank you for your comment.
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caguillen214 caguillen214
@caguillen214, That being said there are plenty of people projecting a decent amount of growth before the consolidation. Unless we blow through $10k I think we'll see some dramatic correction. Personally, I'm waiting to re-enter BTC.
+1 Reply
silmaril0875 caguillen214
@caguillen214, I've been watching the prices on Bitfinex and it seems the price is propped up to protected positions in BTC. My view is the people that go bought out during the run will have to buy back in if it doesn't correct which will push the price higher. At some point someone will run out of patience and we'll see a move and it will be very quick.
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caguillen214 silmaril0875
@silmaril0875, I agree. Whoever is out will have to be quick to run with the bulls because an upwards break will likely have a lot of momentum with it
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silmaril0875 caguillen214
@caguillen214, This little prediction just came true...
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caguillen214 silmaril0875
@silmaril0875, truly, I should have written about that instead haha.
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skyzacrypto silmaril0875
@silmaril0875, $70, here we go! holding thumbs for the breakout after this
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caguillen214 skyzacrypto
@skyzacrypto, Not too bad!
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