Litecoin: Bouncing FormationAfter finishing a long consolidation period in a triangle, LTCis breaking down the formation and turning to retrace. The price is falling from 44499 to 42544.
In the ascending triangle, as we see, price finished the ABCDE formation and is ready to rally. The current price range is similar to its previous legs, so an intraday sell appears.
We are assuming the price will reach the target and more sellers will participate in the market during the New York session.
I am with you as the market goes, and I will hopefully read your comments and opinions on the current price structure.
Follow tune.