Is LTC-USD going to continue in it's upward channel after a minor retracement?

in LeoFinance4 months ago

Playing around drawing up the LTC-USD chart, in retrospect it's pretty obvious it was going up.

Screenshot_20210214_153310.png

We have a rounded bottom, with the downward channel going into a flat bottomed triangle with ever decreasing highs, before it breaks out, and goes into an upward channel.

Right now, we're starting to reach the peak of that, if we haven't already.

Before that recent movement you can see a clear flagging pattern.

Screenshot_20210214_154114.png

I actually had seen that pattern, but hadn't set my sells correctly, and it just blasted through them, with not enough invested, due to multiple coins and not a big enough bag.

Now it's hit the top of the channel, and is riding a channel downward right now that looks like either a flag or triangle of some type. It's really too soon to be certain. It might seem to break out, but really just adjust it's shape.

So the question is, is it going to the bottom of the channel to once again test the top of the channel, or perhaps is it going sideways? Or will it just plain crash to break out of the channel?

I think it's gonna fill out whatever pattern this is that it's in, go up a bit, and go sideways. But that's mostly a guess.

Trade responsibly. Educate yourself. Don't put all your trades in one basket.

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Yes LTC is going to continue. Upgrade coming soon!
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