Like many other alts, LTC has been forming a triangle pattern over the last week or so. At this very moment, LTC is at the end of the pattern, potentially gearing up for a strong break out move.
This move can go two ways. If BTC reverses downwards, we can see a bearish move from LTC with the first target around $118, potentially lower if BTC goes below 30k again.
If BTC manages to break above the strong resistance around $35k, we might see LTC reaching up towards $137, potentially more if BTC manages to push towards $40k and beyond.
Keep a close eye on BTC when trading alts. Especially larger ones like LTC are highly correlated to BTC.
Happy trading!
This move can go two ways. If BTC reverses downwards, we can see a bearish move from LTC with the first target around $118, potentially lower if BTC goes below 30k again.
If BTC manages to break above the strong resistance around $35k, we might see LTC reaching up towards $137, potentially more if BTC manages to push towards $40k and beyond.
Keep a close eye on BTC when trading alts. Especially larger ones like LTC are highly correlated to BTC.
Happy trading!
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