Litecoin LTC Bullish Wedge?

Updated

On the left it looks like we have made a bullish which has a target around the yellow circle. We are still at a cross point it seems because we just made a small squeeze up but no follow through so far so things can easily fail. For Litecoin it is quite easy at the moment, if it is able to stay above that green support on the right chart, we could see an attempt to break that previous high, which is also around the resistance of the wedge. So the setup is there, but it will be up to the bulls to show confidence or fear.

Previous analysis:

Litecoin LTC target around 29 and up again? Part 2

Note

I adjusted the trend line of the wedge a bit, since it seemed like a breakout but got rejection later. So i am assuming this is the correct shape now. If we break the wedge, we need more buying volume than we had with yesterday's attempt

Note

This is quite the buying now of course :), target reached in one sweep. Now their is obviously more potential here, but i think everyone has learned in 2018 greed can bite you in the ass. It's okay to let some run, but target is a target, so at least need to take some profit.

If Bitcoin doesn't loose to much ground, we could see a bull flag form to fuel up for another wave up.

Note

For the LTC bulls, it needs to stay above that green zone. If they manage to do that, we could see another wave up towards the 30.

I think this analysis might deserve a few more likes, don't you think :)

Note

The bull flag held, but no volume at the breakout. So we could just see a basic pullback now, but that first green zone has to hold. If that one breaks and we test the second one, there is a chance for an H&S. But as long as that second green zone holds, bulls will remain in favor

Note

botje11

Also on:

Disclaimer

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.