This is a summary of LTCUSD or Litecoin. As you can see it is trading in a symmetrical triangle and will look to break out within the next couple days. Look for a rebound today as prices hit a low today of $232.51 and followed it up with a second test of the bottom at $233.03. The case for Litecoin is bullish as I would recommend waiting for an entry point and buying low and holding for the long term. For those out there that want to trade the swings, be forewarned that pulling out could cause you to miss massive gains expected this year.
Many people are making the case that Litecoin should have a 1 to 4 ratio to Bitcoin due to their system and platform. I am expecting a large increase in price in the coming weeks that should propel it past its previous high at around $420.
I would expect a small dip below the triangle before a push to the upside. But the pattern will definitely break soon
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Update on the 1 minute chart. Look for a further push down if the price breaks below the .618 ratio.
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@echowhale team dropping by with your upvotes
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This post has received gratitude of 0.35 % from @appreciator thanks to: @ricjames.
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This post received a 49.29% upvote from @morwhale team thanks to @ricjames! For more information, click here! , TeamMorocco! .
STEEM Price : 5.976 $
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Good stuff
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