I see litecoin stuck in this falling wedge. I'm pretty confident that we will make the move to $162. When we hit $162, expect sideways movement and maybe we'll see a move to $168.
I won't say we can't break out of this wedge right now; however, I don't expect it just yet. I expect the opposite will occur and we will see a very steep fall down to 89 where we have a decent chance of breaking the wedge. This move may not happen until Cinco De Mayo.
I think the final stop could be in the $55.00 range with a "panic" wick that may even fall out of the wedge and hit $53.00.
I won't say we can't break out of this wedge right now; however, I don't expect it just yet. I expect the opposite will occur and we will see a very steep fall down to 89 where we have a decent chance of breaking the wedge. This move may not happen until Cinco De Mayo.
I think the final stop could be in the $55.00 range with a "panic" wick that may even fall out of the wedge and hit $53.00.
Comment:
Litecoin broke through some major resistance and looks to be breaking out.