Hi traders!
LTC looks like it is tentative, unsure and indecisive all in one. We'll have to keep watching to see a more decisive break by the bulls or the bears. Until then, the tug of war will continue. Breaking above and below the lines I drew for the ascending triangle produced a strong reversal by the opposing party. When bulls tried to break out, the bears brought it back down. When the bears tried to force it further, the bulls returned with force. That is why we need to watch volume. Right now the tug of war is equal so I think it will stay right hear for another day or so. A key point to note is that it got near the .618fib before going back up. As my blue line indicates, that is key support area. After that, we'll see where LTC will take us. I am still bullish on LTC and feel it will makes its way up but it will be a bit of a bumpy ride.
Thanks for reading. Please like and follow if you find value.
*** The ideas posted here are not a recommendation to buy or sell cryptocurrency. ***
*** The posts are for educational purposes only. ***
-CrypToNY026
LTC looks like it is tentative, unsure and indecisive all in one. We'll have to keep watching to see a more decisive break by the bulls or the bears. Until then, the tug of war will continue. Breaking above and below the lines I drew for the ascending triangle produced a strong reversal by the opposing party. When bulls tried to break out, the bears brought it back down. When the bears tried to force it further, the bulls returned with force. That is why we need to watch volume. Right now the tug of war is equal so I think it will stay right hear for another day or so. A key point to note is that it got near the .618fib before going back up. As my blue line indicates, that is key support area. After that, we'll see where LTC will take us. I am still bullish on LTC and feel it will makes its way up but it will be a bit of a bumpy ride.
Thanks for reading. Please like and follow if you find value.
*** The ideas posted here are not a recommendation to buy or sell cryptocurrency. ***
*** The posts are for educational purposes only. ***
-CrypToNY026