Hi guys! Looking at the LTC chart i have found or probably i dreamed an inverse H&S Pattern.
But if we look at the others indicator, we can see that the MACD has crossed his signal and its moving up, at the head of the H&S pattern we have the EMA 200 that can be a strong support that was already testet for a couple of time and the volumes are congruent with the indicated pattern.
I thought all this, because the 26th of february, will be also the relase of litepay service and usually in these cases, prices grow up pushed by enthusiastic investors and traders.
Moreover the complation of the pattern, should coincide, more or less, with the trend inversion of BTC.
Obviously all that i said, is just a guess, and i will not trade on this TA because is really too early to individuate an H&S pattern before the complete formation of the head.
we'll see you next time! Please let me know yours opinions of my work and correct me if I made some mistakes!
PS: I am Italian, SORRY FOR MY ENGLISH, forgive my errors of writing.
DSCLAIMER: This is my own idea and I'm a BEGINNER in TA and in trading.
So DON'T TRADE following my opinions but make yours and play on that. I publish only to have fun and for sharing my ideas whit others who can improve it and help me grow in understanding the world of TA and Trading.
But if we look at the others indicator, we can see that the MACD has crossed his signal and its moving up, at the head of the H&S pattern we have the EMA 200 that can be a strong support that was already testet for a couple of time and the volumes are congruent with the indicated pattern.
I thought all this, because the 26th of february, will be also the relase of litepay service and usually in these cases, prices grow up pushed by enthusiastic investors and traders.
Moreover the complation of the pattern, should coincide, more or less, with the trend inversion of BTC.
Obviously all that i said, is just a guess, and i will not trade on this TA because is really too early to individuate an H&S pattern before the complete formation of the head.
we'll see you next time! Please let me know yours opinions of my work and correct me if I made some mistakes!
PS: I am Italian, SORRY FOR MY ENGLISH, forgive my errors of writing.
DSCLAIMER: This is my own idea and I'm a BEGINNER in TA and in trading.
So DON'T TRADE following my opinions but make yours and play on that. I publish only to have fun and for sharing my ideas whit others who can improve it and help me grow in understanding the world of TA and Trading.
