BerryBird7289

LTC/USD Possible pattern with ichimoku cloud!

COINBASE:LTCUSD   Litecoin / U.S. Dollar
The areas circled in yellow are similar patterns we can see. Historically, the price attempted to go higher, but failed. The stochastic RSI area that is circled shows the topping. Then, the stoch RSI dropped, tested the Ichimoku cloud support and then the price went to gain higher highs.

A similar pattern is starting to emerge right now. Chart shows possible entry points.

A breakdown of the ichimoku cloud will mean the price failed to sustain its trend, so it may be wise to exit the trade.
Comment: The stochastic RSI is about to peak at a major resistance. If it dips down below 80, this patter will likely play out. Depending on BTC breaking out or not, LTC might break above $144 or break down $120.
Comment: If the pattern plays out, a long position just below the ichimoku cloud can be rewarding, at roughly 40% gains!! If it fails, the pre-halving sell-off might get triggered, however.
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