Daily: LTC/BTC set for an explosion.
Updated
Litecoin is nearing the end of it falling wedge for it's BTC pairing. The measured move of this pattern is massive with a 93-105% return. The Target of the move for this wedge is confluent with the 0.786 fib retracement and it's showing some extreme amounts of divergence on a critical historical support level on both the MACD and RSI. Look for a potential breakout within the coming week.
Trade active
Trade active
I am still in this trade because despite the fact that LTC has broken the historical support it still remains within the parameters of this falling wedge and along with that the volume has still been declining; signaling that our move down below the support was not the result of a huge shift in market sentiment nor was it the result of the bigger people in the market selling it. LTC has been below this support level before and everytime it has been it manages to have aviolent swing back above it so until the market tells me otherwise i will still be gathering more LTC at these levels with my targets between 0.012 to 0.0143 BTC. My stoop loss will be any major selling volume below this wedge and support.
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