jbutler7
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LTC in another falling wedge?

COINBASE:LTCUSD   Litecoin / Dollar
On the 30m chart I noticed this pattern. I don't think I would think much of it, but LTC has already been in a falling wedge for a while, but it's nearing the end of this short term one and it's really near the long term resistance line (purple), which caused the break out the other day.

I'm no professional, but could a crossing of the MACd short term be enough to break out of this channel again? I see that potentially happening on the 30m. LTC is still fighting hard at 145 just like BTC             at 9k. Those previous resistances are now stronger supports for the time being. If it breaks below 145 I see it going to 130 and maybe bouncing from there, or going back much lower and unfortunately continuing bearish , but I see that as unlikely as the psychological momentum seems to be picking up from within the LTC community, which means more optimistic buyers. We saw a ray of hope the other day basically, so there's that going for it. If it breaks bullish from the wedge that would be a good sign certainly.

I'm still skeptical to sell because I don't want to miss out on bullish action overnight like LTC did to me last time, but thankfully I was caught hodling that time. MPC             , who I follow, said this could be an inverse H&S pattern forming, instead of a double bottom . Time will tell.

Please comment with your thoughts and constructive critiques of my analysis! I rely much less on shorter term TA than longer term stuff, but the same rules apply for less time as I understand it. Anyways. I digress. Peace out. Don't listen to this as financial advice to buy or sell LTC.
All I know is I'm gonna be grey by the end of the year haha. The indecision is killing me! I think the people want one more big run down before we go bullish, even if it doesn't make sense, but we'll see what happens. I'm trying to keep an eye out as much as possible.
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jbutler7 NickPadovani
@NickPadovani, I feel the same, but now we're back above my trendline and looks like we blew below then above my falling wedge. Patience is the key to winning this one.
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@jbutler7, Oh, for sure, I'm definitely long on LTC, just wish I would know if we're heading to 100 so we could squeeze a little more short out of it ;)
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