This is a Monthly chart of LTC and as you can see LTC is forming a Huge Cup and Handle. You can clearly see a Double Bottom that formed and now the handle of a C&H is in the process of forming. $240 would be short term resistance but we could see LTC run up to the ATH and surpass it. Please do your own research and let us know if you have any questions.
@juarezhernandez164, Haha, yeah, when I was looking thru charts I was looking at the Daily but when I switched to the Monthly it jumped out as a huge C&H and it just looks beautiful.
pugsan
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@TradingBTC1, I agree completely. I've been looking at that 3.5 year cup-and-handle formation for the last few months. Giving me good chills.
TradingBTC1
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@rdongoodman, One of the things I look for in chart patterns is symmetry and LTC is an absolute text book pattern of symmetry.
pugsan
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@TradingBTC1, Do you see a W pattern within the cup-and-handle as well?
TradingBTC1
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@rdongoodman, yeah, the big W pattern is there but on the far right side that little handle is why I called it a Cup and Handle instead of calling it a double bottom. If it was a double bottom then the right side touch of $400 would have broken out higher.
ydah
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Doubt it. I dont see it going back to $400. Maybe $250 and then a big drop.
TradingBTC1
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@ydahman, It's possible, my comment was that short term resistance was $240 and if price does get to $240 and breaks through it then there isn't a lot of resistance that would prevent price getting to $400.