LTC has broken out of the corrective triangle it was stuck in, and is now formed a short-term double bottom above the triangles top line. This normally indicates a break in trend, along with the completion of the abcde pattern.
With some additional buying volume, ltc needs to push passed the $66 price level in order to test higher resistance levels around $76. With potential engulfing on today’s candlestick, we can look for another retest of the top trend line of the triangle before another push forward.
LTC has been above the 125 EMA for the last 4 days, if the top triangle line is broken as support, look for a bounce on the 125 EMA.
Please ignore the bottom indicator, it is simply used for BTC charting.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
LTC current price 65.48
COMPLETED 4:50PM LOS ANGELES