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LTC inverted H&SLTC inverted H&S
The Head and shoulders pattern is a short term reversal pattern. It has three peak formations with a taller peak in the center. The taller peak is called the head and the other two peaks are called shoulders. This pattern appears in a bullish market, thus it is also known as Head and Shoulders Top.
The left peak usually appears followed by a bullish rally. This extended uphill rally takes a breath or the prices come down a bit due to a small profit booking. After a small dip in the prices, the head is forming as the bulls gain the momentum once again and push the prices up.
LTC-consolidationLTC right now is testing the weekly resistance and if it can hold and consolidate over the weekly resistance we may soon see bullish sentiments and momentum pushing price up.The RSI also has been cooled of a bit after the flash crash.Its time we may soon see upward push if the volatility of bitcoin and dominance don't fluctuate much.
LTC/USD - Consolidation in progress; Bullish pattern formationLTC/USD
cmp 348.
4h chart - consolidation in progress with a uneven cup pattern formation.
Right side of the cup has a series of HH and HL formation.
Price currently has formed a HL and waiting to spike.
400 plus target is highly possible.