LitecoinLong
Inverse Head and Shoulders in Litecoin??
Litecoin broke through the $100 handle to test support in the high $90's. We saw a green triangle on the KRI confirming support just above our level at $94. The subsequent rally took us back to the value area between $105 and $114. We may be observing an inverse head and shoulders pattern with a neckline roughly in the middle of this range, at aboutu $112. If this works out, then a breakout could easily take us past $114 to test $120. The Kovach OBV has picked up with the bounce, which is yet another data point to suggest that we have bottomed for now. If not, we watch $94 as the barrier to lower levels in the $90 handle.
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