Not looking good for litecoin, HUGE descending triangle pattern

As you can see Litecoin is in formation of a big descending triangle pattern. No one wants this to be true but you have to make decisions based off of what you see not what you want. Never trade with emotion! Litecoin will have its time but It seems not for awhile. Of course this is a probability and there is always the probability that we go higher and the formation will be invalid. This will also depend on what bitcoin is doing because all coins will follow.

Comment:

I want to be clear, I do NOT think litecoin will ever drop below 0 or close to 0 for that matter. This is why it is a target range. I draw what I see and this is the result. I expect a drop to anywhere between 40-80 usd. HOWEVER, if we see bitcoin go up we can expect litecoin to go up which is why TA on alt coins can mean the probability of the patterns to become true is less likely. Always keep this in mind!

Comment:

Idea is following my lines perfectly, should see a bounce here soon