LTC testing the Wedge ! Breakout ? Crucial Time !
Litecoin has been squeezed in wedge ! Its testing it guys ! If it breaks it ( sometimes another test is there to convert it in support ! which happens less) we will have its breakout ! Also BTC is dominating the market ! It seems BTC will come out of inverse H and S pattern and litecoin will break this wedge together ( if LTC breaks it which has high chances because it was formed after a rise of LTC and in such cases high chances of breaking upside are there and leading to breakouts ) ! It has slowly reached near end of wedge so it should break it from there ! Also note : LTC is not too small coin but still BTC dominance matters somewhat when BTC dominates the market clearly ! BTC breakout of H and S could give it small pump to break this wedge and after that it may be too strong to rather make a small rising elliot wave w.r.t. BTC ( you may have seen what happened last time when it broke descending wedge) ! Keep watching !
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.