Head and Shoulders in Litecoin??

After retracing significantly, Litecoin appears to be forming a head and shoulders pattern with a neckline at $217, which we are identifying as a new technical level formed by the highs and lows of the current price action. If this pattern results in a break down we could easily see $195 or $184, which are levels we are well familiar with. If we don't see a selloff come through then expect LTC to continue the range between $217 and $227. We have quite a bit to go before our next target of $250.