LTCUSD -- Breakout of Triangle (log scale) & 99Day MA

Continued update from 4/10 Trade --- Two majorly bullish signals today.

1) Breakout above downtrending resistance (log scale)... This line was already broken on standard scale.

2) Breakout above 99-Day MA which was acting as resistance.

LTC looks poised to move sideways, and possibly retest the two above as support, before moving on to the 210-220's.

Keep an eye on if these lines are broken to the downside as that would be bearish at this point.

Good luck, and be patient.... LTC is building a base from which to build a large parabolic curve.... The wider the base, the bigger and higher the curve could potentially be.

-Blud

Commentaire:

Also -- Keep in mind: There is an inverse head and shoulders on the chart (bullish), a cup with a handle (bullish), and a double bottom (bullish) at play here.... The potential exists for $500 LTC within those signals.

Commentaire:

LTC has currently retraced to the 7-DA MA, which is just above the 99-DAY MA (162)... So far LTC is acting in accordance with the chart above.

Commentaire:

LTC has traced to, and tested, the 99D MA as support.. Holding above both the down trending line and the MA would continue to be bullish. A break below either would weaken it's hold at these levels..

Commentaire:

LTC tested the downtrending line as support and bounced off it... LTC could continue to drift sideways / downward gaining support prior to pushing to the next level.

Commentaire:

LTC continues to test the downtrending line as support. It should continue it's sideways direction before resuming to new levels.

Commentaire:

Rather negative to see LTC fall below both supports and back into the triangle. Could become a sell below 143.