Litecoin chart is looking to show good signs of reversal. I found a double bottom pattern that follows the rules pretty accurately. Ive noticed the first leg ends before the second leg and there is a good amount of volume throughout these bottoms. The space between the moving averages is decreasing, once we see the 8 EMA (green) move over the 55 EMA (red) it is a good confirmation we are moving in an uptrend. Once the candles close over the trend line resistance we will see it shoot towards the neckline. After it is passed the neckline it will retest it as the new support and move on from there.
**The green lines are not price predictions they are just showing what will happen once it passes the trend line resistance**
I am not a professional, i am still learning. If there is anything you would like to point out about my analysis please feel free to comment as i appreciate any help/tips. Thanks
**The green lines are not price predictions they are just showing what will happen once it passes the trend line resistance**
I am not a professional, i am still learning. If there is anything you would like to point out about my analysis please feel free to comment as i appreciate any help/tips. Thanks
