Cup and handle formation theory

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Hello everyone , as I expected in my previous post LTC made a good run and climbed to the top of the channel were it found resistance at 71.5 . From here i expect imediate consolidation and retesting of the upper chanel resistance line. RSI is in very good position right now at around 70 on all three 1 hr , 4 hr and 1 day time frames. with high volume .

My theory is that, to have a perfect Cup and handle formation we shouldn't take in consideration the dip from march which was caused by a black swan event and consider that the cup has a perfect rounded bottom. If this is right than the neckline should be at 68 and was broken today. this cup and handle formation should take us to around 95- 100 limit in the short term were we will probably find resistance .

Thank you for your support please leave a thumb up if you like my idea.
Take care and good trade to everyone.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out