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ronzo777

LTC Retesting Breakout

Litecoin (BITFINEX:LTCUSD)  
ronzo777 Updated   
BITFINEX:LTCUSD   Litecoin
Trend Analysis Support and Resistance Trend Lines
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trendanalysis supportandresistance trendline
LTC is testing its 30th June breakout. LTC broke out of a wedge, pierced the 200 weekly moving average, but could not hold above it, and is now retesting the breakout of that wedge.

It must hold above this, otherwise we can assume the pre-halving rally is over.
Comment:
Update on this: Not looking great for LTC at the moment. Halving occurred yesterday, and LTC is essentially back inside the wedge pictured above. If price continues inside the wedge the next price target would be bearish - the bottom trendline of the wedge.
After that we can only wait and see how things play out post-halving. A breakdown from the wedge/triangle signifies that $115 was probably the top of the pre-halving "rally", and we will continue downwards for the rest of the year.
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