quantguy

Litecoin Consolidating, Breakout Soon?

Long
BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Litecoin has seen a lift from lows. It is currently contending with levels in the upper $100 handle, facing $174 at the moment. It still has a way to go and many levels in the way before it can reach $200 again which seems to be a significant barrier for now. We saw support at $147, and we will see if it returns here to test this level again or forms a bull wedge while gaining momentum to break out into the $200 handle. The Kovach OBV is is still somewhat weak but has picked up notably. Expect consolidation and the continuation of our wedge pattern until we build enough steam to break out.
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Comments

with all these indicators you still got it wrong, just shows how unpredictable trading can be sometimes
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Great analysis!
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