LTCUSD’s monster descending triangle
Price action between January 5, 2018 and $108.29 is captured in this analysis as a descending triangle for Litecoin (LTCUSD). The implication of this chart pattern is bearish, albeit not 100% of the time.
Litecoin (LTCUSD) currently has broken out of the is chart pattern and the downward target using a vertical projection of the width of the chart pattern means Litecoin (LTCUSD) would go back to $0 and cease to exist.
The earliest target for Litecoin (LTCUSD) to find support is placed between ~$58.20 and ~35.38 before any possible bullish momentum can be sustained.
Litecoin (LTCUSD) currently has broken out of the is chart pattern and the downward target using a vertical projection of the width of the chart pattern means Litecoin (LTCUSD) would go back to $0 and cease to exist.
The earliest target for Litecoin (LTCUSD) to find support is placed between ~$58.20 and ~35.38 before any possible bullish momentum can be sustained.
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