The future and the past, the elegant dance of two creates the present. Welcome and good luck with trading ;)
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One rule, if it leaves the triangle it will break out big down or up.
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Litecoin will be heading to 0.01555
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Thinking we will find strong resistance at 0.01555-0.01600 and make a handle on this cup with yellow lid before going up higher.
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Could be heading to 0.016895
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To further understand my claims, have a look at this older chart. Where the yellow line was also a crucial uptrend line. This one will act as strong resistance now.
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I repeat target reached of 0.016895!
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Red bars are fractal overlay of previous flagg. We should consolidate at this point.
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To be on the safe site, I would short here. This could turn into a massive H&S pattern and still resistance at these levels.
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To support my last comment. LTC has been very bearish after each strong rise (I & II) and the ABC correction showed almost no big up to B. It is wise to exit or short here and have a look if this goes really up more.
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Log-Chart that also says shorting is wise.
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Update on Litecoin. Normal correction should play out after 3 successive waves, even reached the utmost zone of the large triangle. Target points are in the chart
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The trend should stay in the triangle.
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PERFECT bounce at bottom of triangle. Nice!
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Looking more and more like a massive Heads and Shoulders.
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Have a look at the picture I posted on this feed 1 Sept.
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With I, II and III :)
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LTC outside triangle.. Bad.