Same setup with a strong correlation to BTC.
Watching for a break of this pattern to dictate momentum as we head into the New Year.
Without news it will be up to BTC to determine the direction of the break and we are just patiently sitting on our hands if not already in a position.
Over trading in this environment will be easy to add up some small losses due to lack of volatility and movement.
Risk/reward usually greater in LTC than BTC as we see bigger reactions to the breaks when they do occur.
Make sure there is a bull break with BTC and not just LTC when it does occur,
as it is possible to see a fake out if BTC does not follow and stays within the pattern.
Watching for a break of this pattern to dictate momentum as we head into the New Year.
Without news it will be up to BTC to determine the direction of the break and we are just patiently sitting on our hands if not already in a position.
Over trading in this environment will be easy to add up some small losses due to lack of volatility and movement.
Risk/reward usually greater in LTC than BTC as we see bigger reactions to the breaks when they do occur.
Make sure there is a bull break with BTC and not just LTC when it does occur,
as it is possible to see a fake out if BTC does not follow and stays within the pattern.
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social