The area marked yellow technically prevents the stock from breaking out above the triangle. The distance between 'A' and 'B' is too short, and the rise from the current low to 'B' is too steep proportional to the first run from 2017 to 2018.
While I wouldn't completely rule out a breakout above the triangle, it is highly unlikely! Instead, watch out for a descend to touch the 'support trend line', then a 'partial ascend' until around Nov-Dec 2019, followed by a breakout below the 'support trend line'. Litecoin is currently in a beautifully readable formation and is a 'strong buy' by spring of next year. It has the potential of reaching the all-time high by spring '22.
NOTE: Lines have been connected using the line-chart. This way the highs and lows are averaged and allow for a much preciser evaluation.
While I wouldn't completely rule out a breakout above the triangle, it is highly unlikely! Instead, watch out for a descend to touch the 'support trend line', then a 'partial ascend' until around Nov-Dec 2019, followed by a breakout below the 'support trend line'. Litecoin is currently in a beautifully readable formation and is a 'strong buy' by spring of next year. It has the potential of reaching the all-time high by spring '22.
NOTE: Lines have been connected using the line-chart. This way the highs and lows are averaged and allow for a much preciser evaluation.
