LTC appears to be forming a short time frame rising wedge
If you neglect the large sell off yesterday, Litecoin appears to be forming a bearish rising wedge, higher highs and higher lows. This should mark the beginning of a sell off. To further support this idea, litecoin has also approached the top of a long term trend channel. Not shown in this chart, litecoin is currently at the top of another shorter time frame channel.
Looking at the longs and past history, litecoin also hasn't had this many longs during a bull run since the beginning of january. Litecoin price was also at the top of this long-term channel at this point in time. In the coming weeks, this correlated with a large sell off with a ~30% decrease in value.
Price target 280-300. Position entry at 380. Stop placed at 395.
This is not advice, do your own analysis.
Looking at the longs and past history, litecoin also hasn't had this many longs during a bull run since the beginning of january. Litecoin price was also at the top of this long-term channel at this point in time. In the coming weeks, this correlated with a large sell off with a ~30% decrease in value.
Price target 280-300. Position entry at 380. Stop placed at 395.
This is not advice, do your own analysis.
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