LTC/USD - Ready to bounce in your arms! $160?

LTC has painted a massive descending wedge which should resolve pretty soon. The bias on this move is bullish as indicated by the green arrow. The indicators are bullish with a positive cross on MACD.

What reinforces this bias is that the LTC/BTC chart looks even better than this one. We've arrived at a key support area so before LTC wants to drop lower, we will likely have a nice bounce towards $160.

This scenario will be impacted buy ETH and BTC which are rather weak right now, so they may pull us lower before any pump. So keep your eyes on the market movers. Apart from that, LTC may provide a sweet entry for a long here, but don't hold it too long, as LTC can reverse course again.

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