LTC Pennant
LTC is within 5 hours of breaking out of its current pennant. If the price breaks to the upside we will be looking at moving back to 300. Should we break to the downside I see price falling to around 220 which falls in line with the established down trend support level. 24hr volume has been falling and the RSI and Macd on the 1day charts are still quite high and show a downward pattern. A break to the downside should bring the 1day indicators back into bull territory completing a fully healthy retrace cycle and clear us for big gains starting soon. 1hr and 4hr indicators show that we are in a position that the price could easily break to the upside for minor gains but would prolong the correction time frame. Givin the weak volume and downward pressure each time the price begins to move towards 300 I believe that the price will break to the downside. I welcome any thoughts.
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