Litecoin recently reached a low at just under $50 and is now hovering at $56. With this current sideways movement we are forming another bear flag
. As you can see we have formed a series of bear flags. Based on a Fibonacci extension
this bear flag
would send price down to sub $50 and as low as $36.99. However not every bear flag
produces a continuation of the trend.
If we do break down I would start buying in the mid $40 range and lower. From there I used two fibonaccis to find target areas which are
$107 - $111 and $124 - $133
Be patient and wait for confirmation