Hi guys, Just a publication to share with you few pieces of analysis on LTCUSD. Today we have broken the symmetrical triangle. The cup and handle pattern is confirmed and we should test the descending triangle support soon : $145. Aroon is here to confirm a great bullish move coming on the day-chart as the red line perfectly crossed the green line around 50-55....
Cup and handle formed on $BCPT which broke out above the 38.2% retrace line. Looking to form another cup and potential handle on good 24hr volumes. Overall target is to retest the all time highs @ 14,900. EDIT: Careful, negative divergence and low volumes on the final cup formation.
This pair looks very interesting right now from technical point of view. Price is trading now at strong resistance on weekly chart. My personal view is neutral because if resistance is broken we may see continuing bullmarket. But in short term it can be interesting to short this as daytrade, possibly as swingtrade if price moves down significantly. Have in mind...