Long Pennant Formation, ready to POP?!?
Updated
Here's what I'm looking at for LTC. Looks like the pressure is really building up in the cone of this "LONG," Pennant!!! Looking back at previous Pennants in LTC this Pennant should be No different, as each consolidation, (like this event), should burst LTC to newer highs and higher lows! As indicated in the chart above, my thoughts are as follows...
Comment
Although the Volume is currently LOW; it may yet Pump higher as this is Sunday (1-14-2018) so when Asia wakes up and Day-Traders/Hedge Funds get back at it things should bounce Higher?! But, sadly it LTC could move down again as there is still wiggle room above the Green-Support-Trend-Line! If LTC can Break $260 USD then we can expect to hang out, around $300 USD RANGE...However, because of the LONG Consolidation period from December 22-2017 up until now...we could see LTC rocket up to $400 USD?! Possibly. Anyway, my thoughts are outlined on the Chart above. That's about what I am expecting, so...lets see what this market will deliver in the next week?! Can't stay down LOW forever; remember everything suggest Upward movement here. Once we Break that $300 USD price point we may never look back!!!
That's kind of funny...didn't BTC Bitcoin do the same thing when it was flirting with $300 USD???
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