Litecoin has been within an Ascending Broadening Wedge since its bottom in December of 2018, similar to my Etherium analysis, and is currently below the 60-Day Hull Moving Average on the Weekly...
The Daily candle opened lower and below the 8- and 20-Day HMA...
With the support of the 8- and 20-DHMA's on the 4Hour but below all HMA's on the 1Hour...
The measure rule for this patter based on the principles of Charles Bulkowsi are for a maximum target of the beginning of the formation of the pattern, with that here are the targets we are eyeing...
And if we measure the previous local downward move as a Motive Wave...
The Fibonacci levels match pretty closely with our targets...
The bearish technicals on BTC lead me to believe there is a strong chance of this pattern breaking down to these targets.
The Daily candle opened lower and below the 8- and 20-Day HMA...
With the support of the 8- and 20-DHMA's on the 4Hour but below all HMA's on the 1Hour...
The measure rule for this patter based on the principles of Charles Bulkowsi are for a maximum target of the beginning of the formation of the pattern, with that here are the targets we are eyeing...
And if we measure the previous local downward move as a Motive Wave...
The Fibonacci levels match pretty closely with our targets...
The bearish technicals on BTC lead me to believe there is a strong chance of this pattern breaking down to these targets.
Note
Guess where next...Note
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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.