atdykema

LTC ascending triangle

BITFINEX:LTCUSD   Litecoin
A very clear ascending triangle. The problem we are left with is whether the price goes up or comes down. In manipulated markets such as these, TA cannot be a confident in patterns as bots and reverse a trend in order to fool other traders. The long target is 74$ because it was the previous heavy support before breakdown. The short target would be 50$ because we are still watching for a double bottom, so the price could go lower, but I doubt it would without popping through the top of the triangle first as nothing moves in a straight line.
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