LTCBTC trendline Technical Analysis and USD pair convergenge

Panjang

Litecoin / Bitcoin (BITFINEX:LTCBTC)

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BITFINEX:LTCBTC Litecoin / Bitcoin

trendanalysis fallingwedge potentialbreakout ltcbtc ltc

Seen here is what appears to be a falling wedge pattern which on the surface suggests a decline in value versus BTC however in comparison to the LTC USD trading pair there has been the development of a pennant pattern simultaneously. These converging patterns could suggest a massive appreciation in value of LTC over both BTC and USD which could develop within the next few days so this is definitely a trading pair to keep an eye on. Suggested buying zone would be just above the resistance line of the wedge so that would be a positive indicator of breakout and upward trajectory.

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See convergence of USD pair here

LTCUSD trendline Technical Analysis and BTC pair convergenge

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