MexCrypto
Long

Litecoin Ascending Triangle

BITSTAMP:LTCBTC   Litecoin / Bitcoin
BITSTAMP:LTCBTC            

Litecoin, in terms of Bitcoins             , is making an Ascending Triangle Pattern, https://www.freeonlinetradingeducation.com/ascending-triangle.html , as seen on the chart.

It could be a couple of days or weeks before we break out, but once we do that, it should run fast.

The price tarjet is determine by adding to the breakout point, 0.02 Bitcoins             , the size of the previous movement, 0.02 Bitcoins             - 0.006 Bitcoins             = 0.014 Bitcoins             . So the price target once we break out of it should be about 0.034 Bitcoins             per LTC. Wich I would expect it to be reach in the first quarter of this year.

Good Luck in you decisions
Kommentar: The triangle pattern that I posted before was invalidated, buy instead we got a different corrective pattern called Flat Pattern. http://thepatternsite.com/EWFlat.html

The correction in Litecoin seems to be over, and the uptrend has resume. I will expect it to double in price, at least in dollar terms, within the next 2 or 3 months.



Good Luck in your decisions
Kommentar: I partially sold my positions, even though I expect it to climb in terms of Bitcoins in the short term. Because I'm seeing a big decline in Bitcoin ahead, this month, and that might mean lower prices in it in terms of USD Dollars. Taking refuge on USDT Tether for now, in all my positions. But I will buy it back as soon as the decline in Bitcoin finishes.
looks like it broke the triangle
Antworten
@cbarkly, it need to break 0.014 Bitcoins per Litecoin to break it. I draw the lower line a little earlier.
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