The price of Litecoin seemed to create a huge double bottom pattern with the key support at 25 USD. Since it has been defended the price skyrocketed and has broken the potential key resistance at 144 USD. Currently for one LTC one should pay 175 USD.
As a consequence the price may still have opened way to the textbook target for double bottom pattern at 258 USD. Near this area we may also observe a previou local top from February 2018.
It seems that only a move below 144 USD may change the view from bullish to bearish.
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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.
76.44% 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.
As a consequence the price may still have opened way to the textbook target for double bottom pattern at 258 USD. Near this area we may also observe a previou local top from February 2018.
It seems that only a move below 144 USD may change the view 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.
76.44% 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.