The strength LTC has been showing the past months, the weakness it has been showing the past week. Bitcoin rallied so much, one would expect LTC to rally a lot more as it has done the past months. But instead, it barely even moved. Just doesn't make a lot of sense, unless we are seeing a lot of profit taking. The ending of the parabolic move shows us this, but so far not real volume dumping though. In the middle it broke a small support, but no follow through yet. With Bitcoin being at an important stage now as well, we can either see this H&S play out and accelerate down, or the H&S fails and we get to see a counter move instead. But then it should stay withing that possible wedge in the middle.
The 125/128 zone can still be a big support even if we make a drop now. But if that breaks, the next support zone is around 115 and 100.
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Previous analysis:
The 125/128 zone can still be a big support even if we make a drop now. But if that breaks, the next support zone is around 115 and 100.
Please don't forget to like if you appreciate this :)
Previous analysis:
