If LTC price action breaks the black line and closes a 4 hour candle below 173$, then the targets 140 and 150 will be in play. Until then, if LTC can maintain this current upward channel, we could see the end of the correction and a test of 217 and maybe 230.
Komen:
Komen:
LTC broke down from the channel.. if the black support line breaks, I have this as a general plan
Komen:
i sold at 171.50 and bought back in at 166. noticed bitcoin was testing bottom of flag/top of channel, aborted trade until BTC breaks down. if it does i can re-sell
Komen:
re-sold @166.50.. could see it coming.
Komen:
triangles keep forming and breaking down
Komen:
there can be a rising wedge forming until LTC breaks the heavy resistance around 173, so i will become bullish on LTC and consider the correction over if LTC can break above that level
Komen:
if LTC breaks down the bottom of the wedge, we can see 140 ish as a target
Komen:
Komen:
watching for a breakout of this triangle to determine where the market may be headed
Komen:
so now we have good confirmation of a bull rally. watching the red line for good resistance. I still have this area as the top of the overall downtrend. if we can break above this line @ 182, then I will become bullish
Komen:
here we can see the big picture
Komen:
currently watching this triangle formation for breakout either way
Komen:
I think if it were to break down it could be double bottom ish at 137, possibly testing the rising blue trend line.
Komen:
potential H&S gives a target of 137, testing the blue trend line as well at the same point. gives it credence. will continue to watch LTC for a breakout either way and be ready for either way as well.
Komen:
If the triangle broke up and polished off the inverses H&S it would form, we'd expect a move to roughly 215