LTC Breakout! Cup and Handle? IH&S? Or Both?
As expected, LTCBTC has broken bullishly after its recent golden cross on the 1 day chart. We can see its already wicking down from the Cup and Handle breakout target suggesting the pattern that has been triggered was the cup and handle and not this much larger potential Inverted Head and Shoulders pattern. We could easily also hit the inverted head and shoulders target considering that we just recently had the golden cross...but the volume profile for this IH&S so far isn't what I'm used to seeing...I'm more used to seeing a significant amount of volume at the beginning of the left shoulder which seems absent here...also the breakout volume is typically more notable as well, although we can certainly see a surge in volume here just not as much as anticipated....So for now I think it is only the cup and handle that has triggered but I anticipate the ih&s will likely trigger to after a brief retracement. Even with the lack of the left shoulder volume.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.