Litecoin - inverted head and shoulders pattern
The price of Litecoin has ended the potential five wave impulse structure as the end of the corrective wave. The key support at 42,00 USD has been defended and the price has created a potential inverted head and shoulders pattern.
The neckline has been broken yesterday at 51,61 USD. As a result, the market may rise to the textbook target which is set at 61,72 USD. There are also previous highs that could set another barrier for the bulls.
It seems that only a decline below 42,00 USD could change the sentiment from bullish to bearish.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The neckline has been broken yesterday at 51,61 USD. As a result, the market may rise to the textbook target which is set at 61,72 USD. There are also previous highs that could set another barrier for the bulls.
It seems that only a decline below 42,00 USD could change the sentiment from bullish to bearish.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.