LTC/USD Wedge Pattern
LTC is in consolidation mode, forming lower highs and slightly lower lows inside a falling wedge pattern.
Is LTC/USD a buy or a sell?
Price is testing the bottom of the wedge, trying to decide whether to make a bounce or a break.
The moving averages appear to be going for a bearish crossover to signal a likely breakdown. If that’s the case, LTC could tumble by the same height as the wedge pattern.
Size of the wedge pattern: ~ 80 Units
On the other hand, Stochastic turning higher from the oversold region could reflect a pickup in bullish pressure, which could be followed by a bounce back to the wedge resistance.
Is LTC/USD a buy or a sell?
Price is testing the bottom of the wedge, trying to decide whether to make a bounce or a break.
The moving averages appear to be going for a bearish crossover to signal a likely breakdown. If that’s the case, LTC could tumble by the same height as the wedge pattern.
Size of the wedge pattern: ~ 80 Units
On the other hand, Stochastic turning higher from the oversold region could reflect a pickup in bullish pressure, which could be followed by a bounce back to the wedge resistance.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.