$LTC.X $LTC Failed Breakout & Bearish Reversal

21. Feb. 2018

LTC failed bull flag breakout...this morning on the 4hr chart we had 4 closes above the bull flag high from Feb 15 however there was no follow through and now price has dropped back down into the bull flag formation forming a shooting star which is a bearish reversal pattern. BTC has also failed to breakout above the YP and up through the downtrend line. It appears all the cryptos are following the lead of BTC and everything is on hold until BTC breaks through...or breaks down. Resistance remains at the confluence of the high of the bull flag and the 61.8% retracement from the Jan 6 high and Jan 17 low at 238. For a successful breakout of the bull flag look for another spike up above 238 with volume and a close on the daily candle near the high and an RSI crossover 70.