LTC Bull Flag? OR drop to bottom of channel? LTC/USD is currently in a tricky position. Currently the bull market is looking good. There is still a chance of litecoin dropping to the bottom of the upward channel. We have had a strong week and it might back track. However, with the rise to $48 in the last coupe of days, we might see another perfect Bull Flag. It is going to take a few days to see if the flag forms but if it is as successful as the last bull flag we will see a rise above the upward channel top line in blue. Bitcoin is looking very good right now above the 50 MA line, and still showing strength, so Litecoin may follow.
I am very much a beginner and just want to make observations and learn from them! My simple analysis is for fun and learning, please do not make trading decisions based on my observations - like I said I am just a beginner.
