LTC broke from the triangle and will complete its correction in a few days and should reach fastly (I guess so 1 or 2 weeks) 70€ then proceeding to 100 and 160..
So I would definetely buy it..
This has been a long consolidation pattern for LTC. The "good" news about its Segwit activation has been under-valued until now. Hopefully this development gets reflected in the price within the next few weeks.
I think there is going to be another drop in short-term of BTC. Many new investors coming in BTC and after seeing a 400€ drop in a few minutes, are waiting for the bounce to get out. Also many analysist are talking that the bubble could pop anytime soon, and it is normal after the recent rises over 10% a day people will try to sell. LTC and most of altcoins drop...
I would suggest reducing exposure/hedging/outright selling $LTC for now, since the 'QUARTERLY' target was hit, everyone has been frantic about it today, so I would be careful with longs...best thing to do is to reduce risk, or just get out now.
If interested in receiving my insights and all trade ideas, send me a pm.
Cheers,
Ivan Labrie.
To join this move, if you were looking to buy now, it is a bit late. The daily chart gave a signal, but there is always risk that the miners decide to remove hashrate and that would decrease the Segwit signaling %. To activate it, the hashrate signaling it has to be 75%, it's now around 70%, which got people excited. There is no guarantee miners don't go and make...
My ETA about 2 week maybe 22 days .
Can't tell much beside what is written on my chart. Basically my method involves some of Gann theories , study of the "whole story" , I use pitchfork and modified Schiif pitchfork , fibonnacci < levels
