From the chart we can see litecoin is moving inside a falling wedge and both MACD and RSI are showing bullish divergence. Also, 130 held well on March 28 with huge volume, showing many buyers are satisfied with the price. It may drop a little bit more to 128 but it would still be bullish as long as it stays inside the falling wedge. A more likely scenario is that it will go sideway for a few hours before the breakout. Anyway I think it is already a pretty good buy now due to the potential upcoming correction to 0.382 fib $141.
By the way, the movements of litecoin are usually closely linked with the movements of bitcoin. If bears win the fight in the bitcoin battlefield, it will invalidate the falling wedge here for litecoin. So watch out for the possibility.
By the way, the movements of litecoin are usually closely linked with the movements of bitcoin. If bears win the fight in the bitcoin battlefield, it will invalidate the falling wedge here for litecoin. So watch out for the possibility.
Order cancelled:
Unfortunately bears won the BTC battle. Now I expect it to test 120 and if that does not hold. Then it may drop to previous low.
We don't trade patterns. We draw them.