Hi guys,
A short analysis tonight on the 4-hour chart for the short-term of Litecoin.
As you can see, LTCUSD fought to stay in the falling wedge and today has been forming a clear bottom diamond pattern.
When a bottom diamond pattern is formed, the currency regain its previous value before the last bearish trend. In this case, we are in the falling wedge, LTCUSD would test the $145 support of the falling wedge and could reach $160 if it breaks.
The MACD indicates a potential reversal, so there's huge possibility LTCUSD to follow the pattern.
LTCBTC chart shows a great bullish flag, the breakout would be a great bullish move for Litecoin :
Only few hours (8-12 hours) to see the next move I think.
Agree, comment and follow, have a nice week-end !
A short analysis tonight on the 4-hour chart for the short-term of Litecoin.
As you can see, LTCUSD fought to stay in the falling wedge and today has been forming a clear bottom diamond pattern.
When a bottom diamond pattern is formed, the currency regain its previous value before the last bearish trend. In this case, we are in the falling wedge, LTCUSD would test the $145 support of the falling wedge and could reach $160 if it breaks.
The MACD indicates a potential reversal, so there's huge possibility LTCUSD to follow the pattern.
LTCBTC chart shows a great bullish flag, the breakout would be a great bullish move for Litecoin :
Only few hours (8-12 hours) to see the next move I think.
Agree, comment and follow, have a nice week-end !