LTCBTC - close to the end of an descending wedge

- Litecoin is at the all time low of the last two years.
- Has been in a downward wedge for the last year.
- under all moving averages on the daily.
- Make no mistake It is weak.

- Currently at a double bottom at 0.004041 and A wave
- Could go a little lower to hit the bottom of the wedge and make a final C wave.
- Expecting a bounce off the bottom of the wedge.

- It should hopefully start a new 5 wave structure up.
- It should at the very least test the top of the wedge for a 15% rise.
- Then we have to wait for confirmation of a break of this wedge structure.
- Note also falling volume and falling price is also bullish.
- A bullish divergence on rsi formed - higher lows on rsi and lower lows on price.


As always trade at your own risk and have proper risk management.

Commentaire:

Has played out well so far.
We got that bounce of bottom of the wedge as expected.
When BTC goes on a run, it tends to crush ALTs so its performed well.
Up 10%

Commentaire:

Lets see if we can break this.

Commentaire:

Didn't break the top of the wedge and now almost at the bottom again.
Should see it bounce again off this region.