An update after my last idea:
The coming hours are going to be very interesting!
You have to look closely to the chart when (if) it reaches the circle.
If ltc breaks it, we have an upward scenario following the pitchfork.
However if ltc doesn't pass it, this would confirm the descending triangle.
Be very careful and look how the market is going to react when...
I see a lot of questions about what is the target for BTC USD so here is my answer.
I don't know everything, but one classic way of trading channels is to report the width of the channel as an objective when it is broken.
By doing so, we get a target of 1220, see chart.
My analysis for the coming week.
There is a forming head & shoulder pattern. We should see the second shoulder forming soon.
After that it will probably go low to touch the blue support. (Reporting the high of the head down).
Alternative scenario would be a breaking of all currents supports and break 233. That would lead us to 223.
First of all, this is my first publication, hope you will like it (even if it is not as detailled as some other).
In the short term, if we broke the small channel of end of avril (thin lines).
We are still inside the long one (since beginning of april).
For the time beeing I think we can expect moderate advancing and do a bit of easy channel...