Looking at the four hour chart, we can see that litecoin is filling in the right shoulder of the inverse head and shoulders pattern that I proposed yesterday. There has also been a bullish crossover on the MACD, but it hasn't occored on strong volume or momentum. Litecoin is just kind of drifting sideways — like a crouching tiger, sneaking through the grass, waiting to explode with great ferocity to devour its prey. Anyway, at this point, it appears as though LTC will break out of the inverse head and shoulders, and head for $285, then $308. On the downside, a break below the 200 EMA would be bearish. A break below $200 would probably create some panic selling. Stay nible my friends. Stay nimble.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-