Most probably it's going to breakout upwards. Need conformation to trade
It looks as though Litecoin may be forming a new triangle. I have a suspicion we will begin to coil yet again in this larger triangle before finally punching through our ATH with another long green candle much like the one we saw yesterday. This next coil process, if it proves to be true, could take up to a month to form before we see our next big punch through....
Nice bow draw reversal back into wedge. Pos divergence and %R both say up. 200 MA just above, 8, 20 and 50 just below. We'll see.
Right now, we are in a symmetrical triangle and we are going to have fake-out moves on the smaller time frames like we did just a few minutes ago that don't involve any real volume. Now we can see that consolidation is almost over and it's almost time to choose a trend. Since we made the peak at $315, we've had several patterns that might indicate a move, when...
This month's price action in the DXY has been extremely strong. It's hard to appreciate it from this chart, but there has been bull day after bull day recently. Should the financial crisis highs of 2009 be taken out this time, we will have a very interesting setup for a strong multi year move up in the dollar. The coiling price action since 2008 could provide...