Litecoin has resolved to the downside from it's symmetrical triangle (as i noted in my prior Litecoin article) and looks to be set to retest the 20 ma support on the weekly, around the $90 USD level.
Note that this point acted as must hold support during the 2017 bull market and i believe could very well do so again, at press time Bitcoin and Litecoin appear to be digesting their respective moves.
This is normal market activity, particularly given the rapid rise over the past few months, but bear in mind that for Litecoin the 20 ma on a weekly chart is must hold support (a close below on the weekly could suggest a steeper and more protracted pullback).
As always, stay disciplined
Note that this point acted as must hold support during the 2017 bull market and i believe could very well do so again, at press time Bitcoin and Litecoin appear to be digesting their respective moves.
This is normal market activity, particularly given the rapid rise over the past few months, but bear in mind that for Litecoin the 20 ma on a weekly chart is must hold support (a close below on the weekly could suggest a steeper and more protracted pullback).
As always, stay disciplined
Trade closed: target reached:
The symmetrical triangle pattern has resolved as expected, with LTC within spitting distance of the target, if you were to hold shorts, now would be the time to close them.
