The LTC chart is a perfect descending triangle indicating a bearish continuation at the macro level. The price level being tested is VERY important. This is a good representation of the overall crypto market. A rebound to the $120 range would trigger some serious buyers.
Entered a position at 604.00 with a tight stop at 594. There was about 20,000 ETH volume that was sold last night within an hour period that was bought up pretty quick.
Price action looks - Good
Pattern - Pennant - Good
I'm not long until the wedge is broken through with strong volume. Stop will be below upper trend line. Possible for a continuation through this wedge.
Will be looking to size into a large position upon confirmation.