BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Litecoin after reached a low at $22.54, it increased in value %551.96 and established the high of the year at $146.95.

A possible head and shoulders top can be spotlighted as a major pattern, it is a 20 weeks H&S and some minors patterns have formed over the course of this major pattern.

During the last 11 days, the price has been inside a parallel channel located at the support level (neckline), a breakout or breakdown outside of this channel could deploy a movement with a major extension.


1) Parallel channel :
- Lower boundary (support) = $70
- Upper boundary (resistance) = $79

2)Head and Shoulders:
Neckline = $69 - $72, it has confluence with the %61.80 Fibonacci retracement

A pattern is not a pattern until its completed formation, a pattern can morph into anything during its formation, this is called morphology.
My perspective is slightly bearish .

At the following chart, you can find further details.

Chart LTCUSD daily scale Bitfinex
Hola a todos,
Gracias por seguir la idea y su apoyo.
Si encuentra algo interesante en ella puede dar un me gusta, compartirla con otros o hacer un comentario.

Hello guys,
If you find something interesting in it, you might give me a thumbs up, share it with others, or leave a comment.
Thanks in advance.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out