Priceline of Litecoin / Bitcoin cryptocurrency is forming harmonic patterns with continuity.
1st the price action formed bullish Shark pattern and gave more than 168% profit, now it has formed bullish BAT and entered in potential reversal zone.
Price action is hitting the support at 0.007001 sats which is not broken since Oct 2017.
Volume profile of both patterns...
We can see how LTCBTC moving in uptrend. We touch top 3 time - this is patter called triple top - reversal patter. Also we can interpreted like head and shoulders - reversal pattern. But we in bull trend and this formation we also can interpreted like a impulse - correction(in triangle or horizontal channel) - impulse . But I think first we will go the trend black...
"Litecoin does look quite good from a long term standpoint, but with Bitcoin hovering near 6000, I would be wary longing. Litecoin may pop off in a black swan event similar to XRP and DOGE, so you may buy the breakout. "
That was my comment from the last Bitcoin idea. Now I am long LTC and up over 4%. I have bought more LTC 9550.
I expect this rally to go 20%...
Look at cicle. Now we in recession zone. If we break out support line we will go to the 50%-61.8%-78.6% level fibonacci.
Fundamental
About LitePay
After the AMA with LitePay CEO Kenneth Asareall very crucial and fair questions about LitePay, remained unanswered. This can be a trigger for further lowering the price of Litecoin.
