BBlokx

LTCUSD 1h - Showing a triangle pattern - fib retracement

COINBASE:LTCUSD   莱特币/美元
After the recent spike in price due several reasons (one being LTC entering the Korean exchange?), LTCUSD             is showing triangle pattern towards perhaps a consolidation level. This level also happens to be located at a fibb retracement level. Where the price will go at the end of the triangle is unsure but it might proof to be a new strong resistance/support level.

Let me know our thoughts/ideas. If you have any comments or questions please let me know!

Cheers!
IMO the triangle itself is the consolidation. A break of the triangle will indicate a new bull or bear trend. This normally happens in the last 3rd of the triangle - of course we wouldn't see the triangle at all if it happened in the first half ;). Anyway, I'd be looking for a sustained beak below 57.50 or above 61 today and below 58 or above 60 tomorrow to indicate direction.

Thanks for the chart, cheers!
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