Hello guys,
The right shoulder of the inverse H&S and a symmetrical triangle are broken with an evening star. LTC move has formed a beginning of bear flag. These indicators involve a test of $152 support in the short-term.
Just a bearish momentum I think, LTC should recover its value in a few days. Don't forget that LTC has formed a huge and perfect symmetrical triangle with an ABCDE Elliot wave, so LTC should result from moves in $150-$180 price range to complete the E of the wave.
Take a look at my daily-chart analysis. (Link for "The bright future for Litecoin" below)
Hope you like my analysis, agree or comment below !
Have a nice Sunday ahead ;)
The right shoulder of the inverse H&S and a symmetrical triangle are broken with an evening star. LTC move has formed a beginning of bear flag. These indicators involve a test of $152 support in the short-term.
Just a bearish momentum I think, LTC should recover its value in a few days. Don't forget that LTC has formed a huge and perfect symmetrical triangle with an ABCDE Elliot wave, so LTC should result from moves in $150-$180 price range to complete the E of the wave.
Take a look at my daily-chart analysis. (Link for "The bright future for Litecoin" below)
Hope you like my analysis, agree or comment below !
Have a nice Sunday ahead ;)
Note
This must be the breakout of the bearish flag I noticed. There's another small bearish flag in there to justify that possible move.
Note
Bearish flag updateNote
LTCUSD has recently reached $152 support, now we will wait few times to make another analysis for the next trend. If the $152 breaks and goes near $145 we could consider that the next support will be around $137.Like, comment and follow :)
Have a nice day guys
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.