Ltc bull case - short term
Updated
Ltc has a few bullish patterns in the works
Ascending triangle and short term inverse h&s.
If we break the ~120 level resistance on the completion of these patterns we could also see a blowoff 5th wave in the works from our cycle low.
Fundamentally the timing is good as last halving price rallied into the halving but sold off sharply just a few weeks ahead of the key date and proceeded to go sideways for a long while after until the 2017 bull market lifted it back.
Bearish would be a break below the 105-100 level on strong volume or a weak rise to 125 with a diverging rsi.
Also keep an eye on the up trend if higher lows and highs on the daily - a break if this means tighter stops on bounce trade attempts.
All things on the table so good risk management is really required here. Btc is trying to correct of course but the market ya mixed and it’s anyones guess when we get a real pullback of over 25% which the timing of will impact alt trades.
Ascending triangle and short term inverse h&s.
If we break the ~120 level resistance on the completion of these patterns we could also see a blowoff 5th wave in the works from our cycle low.
Fundamentally the timing is good as last halving price rallied into the halving but sold off sharply just a few weeks ahead of the key date and proceeded to go sideways for a long while after until the 2017 bull market lifted it back.
Bearish would be a break below the 105-100 level on strong volume or a weak rise to 125 with a diverging rsi.
Also keep an eye on the up trend if higher lows and highs on the daily - a break if this means tighter stops on bounce trade attempts.
All things on the table so good risk management is really required here. Btc is trying to correct of course but the market ya mixed and it’s anyones guess when we get a real pullback of over 25% which the timing of will impact alt trades.
Note
Looks like this played out... not a big move yet though, but anyone in can easily adjust risk so you're playing with house money if need be.
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