Litecoin has been forming a triangle in the last couple of days/weeks. A triangle can always mean 2 things: either the price is going up or the price is going down. With that in mind I think this is an perfect example of how to combine fundamental and technical analysis. Since the overall market sentiment is becoming more positive each day I think this triangle will indicate a bullish price.
Also, it looks like LTC bounced of the support line (see point E) just now.
For questions and notes, please comment below.
Also, it looks like LTC bounced of the support line (see point E) just now.
For questions and notes, please comment below.
Note
The breakout is now confirmed! I also found a new (strong) resistance line. Combine this resistance line with Fibonacci then you get a clear target, so for now:Target 1: $238
Note
I came across another pattern which would indicate a bearish movement: the bearish diamond. The bearish diamond top is often overlooked because it happens so infrequently. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.