Looking very bullish here for litecoin as it inches above the neckline of a very tiny shouldered inverse head and shoulder pattern. These type of head and shoulders patterns are great because many technical analysts end up missing spotting them before it's too late. This coupled with the golden cross happening now on the daily is a very good sign for litecoin to regain some of the ground it has lost over the bear market. As always, we still need to wait for confirmation that it has broken out of the pattern but if we get that confirmation $105 is the target.
Note
Litecoin has thusfar dipped slightly below its neckline but it seems like it wants to retest it again in the near future so this pattern is still very much in play with neither a breakout nor a fakeout confirming just yet.
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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.