LTC/USD
Take a look at this chart. Does it speak a crash scenario? Does it call for the end of Litecoin (LTC)? Would now be the time to be taking BUYING or SELLING actions? In which direction do you think the trend will be? Nearly five months of correction and yes, price can still go lower; but unlikely a crash scenario. Why? The SELLER population is not like what it was back in December; in fact, it's pretty much decimated.
Litecoin (LTC) MACD is very close to its apex given the symmetrical triangle pattern. I believe a breakout is quite close. The fact that the MACD movement has obeyed so well the boundaries of the contracting lines; a resolution is needed. Probability said that's to the upside.
Here is the short term, closeup. The blue impulse should start continuing in the upward direction. It should then decisively breakout of the bull flag pattern.
IF the impulse wave proceeds as projected, then a larger degree of trend Inverted Head & Shoulders could be patterned out. Thus far, volume would confirm as well. However, all of this will take time and nothing happens overnight.
Litecoin (LTC) MACD is very close to its apex given the symmetrical triangle pattern. I believe a breakout is quite close. The fact that the MACD movement has obeyed so well the boundaries of the contracting lines; a resolution is needed. Probability said that's to the upside.
Here is the short term, closeup. The blue impulse should start continuing in the upward direction. It should then decisively breakout of the bull flag pattern.
IF the impulse wave proceeds as projected, then a larger degree of trend Inverted Head & Shoulders could be patterned out. Thus far, volume would confirm as well. However, all of this will take time and nothing happens overnight.
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