Litecoin (LTC): Possible Break of Triangle

Litecoin on the 3-hour timeframe is looking interesting after that huge fall on the 4-hour timeframe, where we are now forming a smaller triangle pattern and looking for another downward movement from here.

We displayed the approximate movement we want to see on Litecoin, where we might see a smaller fakeout movement to 100EMA but the end result should be a breakdown from trinagle formation and a movement to lower zones!

Swallow Team

Note

Litecoin has been pressing on the upper side of the triangle formation, failing each time to break it. As there are no clear signs yet of a breakout or breakdown, we think there will be a fakeout to the upper zones and then a movement to the lower zones, breaking lower lows and potentially forming a double bottom pattern here as well!

Note

Litecoin is making that fakeout movement we have been talking about.

While we have here a very calm fakeout, we wait for a break of trend to happen where that fakeout has been pushing itself from as of now.

SwallowAcademy

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SwallowAcademy

🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades

Keep an eye on us and you will not regret it. 😉

Telegram: t.me/+fiEDSn7M9pJkODA0

Also on: