Quick chart and candle analysis on LTC. We see a double bottom formed in the 1D along with matching buying pressure. Next target is clearing resistance at $165 zone.
Hi there, I like what you do. But sorry for my humble comment, it's not a double bottom. "The double bottom looks like the letter "W". The twice-touched low is considered a support level." Usually occurs in a couple of days or a couple of weeks time frame in the crypto market. We don't have double bottom here, however, we do have a resistance level.
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@piladcoin hello there, thank you for your comment. It seems you might not be aware there is a "W Bottom" which is a chart pattern, we've discussed many of these in previous publications. Then there is also a "Double Bottom" which is a candlestick analysis. This is explained above. These two are not the same since one concerns a pattern but the other (above) concerns candles. Best Regards
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@piladcoin here are some examples of "W Bottoms" which concern chart patterns. Hope this helps!