Look at LITECOIN! It has broken out above the 50 (in orange,) completed the right shoulder of the inverted pattern, broken out above the falling resistance (in blue,) and it is now trading above the neckline of the inverted pattern, which is a technical breakout. Additionally, it’s doing all of that on above average . Litecoin has literally taken out all of the immediate major resistance. My only concern, is that it has made this move contrary to .
LTC has lead many times in the past, and we are seeing some nice moves from other coins in the market. However, We’re going to need to see follow suit in the near future. With that said, if LTC can close today’s candle above the neckline (in green,) and hold it as support, we are likely to see a swift rise to the “major overhead ,” around 47-49.
With that said, we know that is forming what appears to be an inverted pattern. This move in Litecoin, is showing us that the market wants to break out to the upside. It is a clue that increases the likelihood that will complete it’s pattern.
Ps. Litecoin is the right coin! =D
I’m the master of the charts, the professor, the legend, the king, and I go by the name of Magic! revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
Published at Sun, 06 Jan 2019 14:15:24 +0000
