botje11

Litecoin LTC Bear flag and H&S, Part 2

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
So far this one is moving as described in the previous analysis. The H&S played out, the bear flag broke, but still no big dump. Making the bullish version of this analysis in full play. As long as we stay above the green zone, it could play out. What we want to see the coming days or so, is movement between the 30.5 and 32.5ish. That would be the ideal scenario and make the bullish version more likely.

If we stay below the 31.5ish and close to the 30/30.5, bearish movement becomes more likely. So we want to see the 32/32.5 get touched the coming day or so.

To be clear, objectively it's all bearish . All i am showing here, that if we move in a certain way, there is a reasonable chance it will become a bear trap. I know most people love to catch the low, but that is also why most people loose. Just think about the Dec rally, there are so many easy moment to go long and increase a position if you really catch a solid rally.
I am simply going to be patient, and waiting for that yellow circle, as described in the previous analysis.


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Previous analysis:

Comments

If paying attention to H&S patterns, I'm curious what the opinion was regarding the larger iH&S pattern that previously completed?


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two dead cat bounces
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