CryptoSimons

CryptoSimons Updated 

Let's take a look at the four-hour chart. After watching LTC last night, we see that, after breaking through the symmetrical triangle and even closing above it, resistance has held us back from pushing further. I still hold strong to that $272 (at the very least) off this bounce from the symmetrical triangle within time. However, I had briefly forgotten about the...

CryptoSimons

If you refer to my last post, I noted the creation of a symmetrical triangle formation. We now have a breakout at the top resistance. The descending volume (see the red parabolic line on the bottom), multiple touches on the resistance and support, pressure from the 20 EMA and others, and overall trend all pointed to a perfect symmetrical triangle that would...

CryptoSimons Updated 

Looking at the four-hour chart, we can see that a symmetrical triangle has been developed because all major criteria has been met. (1) An established bullish trend exists. (2) Volume has diminished throughout the creation of the formation. (3) The breakout will happen after 1/2 of the formation. (4) We have at least 6 points touching our resistance and support...

CryptoSimons

As you can see from the four-hour chart, LTC has successfully broken the major lines of resistance (blue/pink) and begun its breakout from the inverse head & shoulders pattern exactly to the target that I gave you on my last post. We also have created a new upwards trend formation in the green. We can expect LTC to remain in this area for the time being unless...

CryptoSimons

Hey everyone, this is my first time posting. I'm relatively new to technical analysis as I'm from a software background but I see this as a way to improve my skills and learn more by doing. Anyways, looking at the four hour chart we can see that a inverse head and shoulders has been confirmed. Whether or not that results in a trend change to the bulls is another...