varos

LTC H&S - most likely scenario

BITFINEX:LTCUSD   萊特幣 / 美元
442 4 6
Classical Head and Shoulder figure developing as written in books.
Let's see how theory works on practice.
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From a fundamental perspective we saw gains from Segwit, and pullback from the hacked mining pool and the kid that lost 100 LTC. Seeing how it is Ripple and Stellar are just "bank coins" and Bitcoin is just a reserve cryptocurrency dinosaur; if Litecoin can successfully add "lightning transactions" to it's arsenal we could see Litecoin shoot to a 2 billion market cap position or higher.
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The only problem is that the classic head and shoulders pattern for stocks was not meant to be used in a four hour chart. One could almost pick any time frame wishes to make a case for up or down but long term it does not hold water.
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varos RonDurham
@RonDurham, what time frame works best for this pattern? You will find it on a daily chart as well. I made a quick research and saw articles within different time frames. As long as it is a pattern I tend to think it works on all time frames, the only difference is how fast it will be developing.
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Really that hard he going to fall? Wow
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