purpurato59
Long

Resolution of pennant pattern

OKCOIN:LTCUSD   Litecoin / Dollar
Apparently ltc             is not following the same downward trend as btc . This pennant should resolve in the following two days and presents a good opportunity for longs.
I would place an objective around 2.
I love this. Why should pennant resolve in 2 days? Sometimes these can take several weeks to break upward.
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purpurato59 PRO rivet.popper
Normally this pennants resolve on 2/3 of the time to the apex and keeping the previous trend.
It didn't break upward as expected, but protection could be taken against it.
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rivet.popper purpurato59
Thanks for your reply. Any idea what went wrong today? Is this a final dump so whales can load up or something?
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purpurato59 PRO rivet.popper
I do not have any clear understanding of this market. I just try to use some common tools that seem to work on most occasions. I've been following bitcoin for some time and I still don't get why the market behaves this way ! With ltc is just the same, I don't see what are the prime movers, but I've always have the feeling it's disconnected with some basics like block halving and all that.
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Also, the Halvening is coming up in less than 3 months now. A good reason why LTC could be finally breaking ranks with BTC.
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Painful 6% drop today. Any ideas what is going on?
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