LTC Current Forecast: Dumpling Top Pattern
Based on current pattern trends, I'm confident LTC is in the bear-end of a dumpling top formation. If this pattern plays out, as expected, we will see low $60's/high $50's by late Saturday. Usually it's rare to see DT's, but then again.. this is crypto. Have fun.
Note
Note
I updated my chart since the DT is breaking out farther right. Could be a few days before we see the bottom.Note
Update: DT confirmed. It has a strong bearish slant. Meaning: this reversal will be very powerful. If the full formation plays out, without any bullish recovery, we could be looking at low $40 range. Keep in mind: if you plan to trade, there will be a lot of zig-zags on the way to the bottom. Only real opportunity is via shorting or scalping the swings. BUT, once we bottom out, the bullish recovery will be very strong. So, for all the crypto "doomsday" believers out there.. it's not happening. This is a normal reversal, albeit a very powerful one, and we will be soaring soon enough.
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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.