Experimenting with the pitchfork tool. It seems that we have bounced off the lower trendline and will be heading towards the upper area of the channel. Any feedback is appreciated as I have little experience with pitchforks.
RSI on the daily is nearing oversold. We are also trading in a downwards channel. I'm gonna be on the looking for a breakout of the channel and a cross of the MACD; these would be signs that show the direction Litecoin will go in the next few weeks.
I drew some trend lines from Litecoin's history and we'll see how these lines affect Litecoins future. If we break below the resistance line, it's time to sell and wait for bottom.
If Litecoin breaks above this resistance around $127, we will probably have a substantial move to the upside. LTC has been going sideways for several weeks by now and a big bull move could be on the cards.
