jgoston96

LTC Ascending Wedge Followed by Pullback

BITFINEX:LTCUSD   莱特币/美元
Hey guys so I'm a beginner analyst. I've been studying technical analysis for about 8 months and I'm starting to put it into action. I'm looking for experienced opinions, advice and criticisms on my ideas. It's one thing to study something and believe you have an idea of what you're doing, but its another to put it into action, therefore, I would really like some opinions of where I might be wrong on this analysis and also where I might be right. So after LTC's big bull run last night (signaling a reversal on the primary trend in reference to the Feb 4th high on the day chart) volatility is winding down. This is forming an ascending wedge signaling a pull back of the bull run. I'm looking for support at the 33%-50% marks. Is it to soon in the trend reversal to look for support at the 50 and 100 MA's? Again, I'm looking for advice, tell me where I'm wrong, tell me where I might be right, give me some advice if you have any, thank you all!
well it did pullback to 198 which is almost 33 percent and moved higher...perhaps the pullback is over...too much good news coming and ease of use with litepay now and litepal soon.
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