LTC - Ascending Triangle - Possible Price Rise

COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTC/USD forming ascending triangle .

All in place:
Price trend - Can be any direction leading to the chart pattern.
Shape - Triangular. Prices move between two converging trendlines .
Trendlines - Two trendlines bound prices; the top trendline is horizontal and the bottom one slopes upward.
Crossing - Price must cross the pattern from side to side, filling the triangle with price movement, not white space.
Touches - Price must touch each trendline at least twice, forming distinct valleys and peaks.
Volume - Trends downward 77% of the time.
Breakout - Upward 70% of the time and 61% of the way to the triangle apex (upward breakouts) and 62% of the way for downward breakouts.
Average rise/decline: 35%; 19%

Credit - Thomas N. Bulkowski
source -


This information is not a recommendation to buy or sell.
Comment: Just added lower first target - more realistic
Comment: If triangle breakout downward that is my target for short position. Pattern become valid once breakout occurs ( candle has to be closed )
Comment: Triangle broke out downwards so target should be around 150$
Comment: Target reached
Not great but great TA ;0)
balocik PRO Dieter1983
@Dieter1983, Thanks. Just to say that I still remember about Your coins and as soon as this correction will finish I will send You my opinion. For now whole market just going down.
Dieter1983 balocik
@balocik, thank you as always. Im holding fiat ready to jump into LTC . My favorite coin. Orders are placed starting from 145usd every 10usd down. Small fiat and increasing the more it goes down. Im traveling not easy to connect with wifi in Asia. Better a small boat then no boat to jump in
Do you see us going lower?
Sub 150 Balocik?
balocik PRO XenoBiologist
@XenoBiologist, Hi. Unfortunately yes. BTC is sinking a big time and all market is going down. I want be surprise if we hit 106$. But for this we need time. It won't happen today. Watch BTC - if crossing trendline on my latest chart panic sale starts. See support on weekly 6400 but not sure how strong that is. People has to sell BTC in order to make new move up possible - nothing more, nothing less
Excellent chart. I think BTC is not done falling yet. As a result, it is dragging all the other coins down with it.

Keep up the good work! :)
balocik PRO doctorkesh
@doctorkesh, Thank You and totally agree. Unfortunately BTC rules and we all depend on its move.;)
Thanks for your chart... looks like we may be breaking down though.

Here is an ascending triangle forming in correlation to LTC/BTC.

@dustyPH, Thank You for sharing with us, really appreciate.
+1 Reply
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