Woolf_

LTC BREAKOUT/PRICE PREDICTION

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
After what looked like a proper abc correction over the last week or so, ltc has just broken out of its downward trendline and looks fully charged to make a big move up. The deciding factor here will be if ltc continures to pass $300/0.618 fib line. If it doesnt, we will continue to trace further; if it does, we aim to make new highs. Keep in mind the red ichi moku cloud ahead of the current price point can be sometimes predictitive of a down trend, thus why I think another downtrend might be in ltcs near future after hitting 300.
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