Continuation of Bull Pennant uptrend that began the start of August.
This Pennant is different than the previous two in that it consolidates at long term resistance marked with yellow horizontal line, hence the tighter pattern.
Confirmation of RSI over 70 and bullish divergence in MACD along with similar Bollinger Band consolidation and breakout could indicate further upward momentum and a bull candle resembling previous flag poles.
Very promising pattern, especially considering LTR was breached in formation of flag pole. Historically, further resistance has been at 52 and 55, so seeing how this reacts at those values will be interesting. I am bullish long term on Litecoin.
Interested in other's thoughts.
Happy & Profitable Trading!
This Pennant is different than the previous two in that it consolidates at long term resistance marked with yellow horizontal line, hence the tighter pattern.
Confirmation of RSI over 70 and bullish divergence in MACD along with similar Bollinger Band consolidation and breakout could indicate further upward momentum and a bull candle resembling previous flag poles.
Very promising pattern, especially considering LTR was breached in formation of flag pole. Historically, further resistance has been at 52 and 55, so seeing how this reacts at those values will be interesting. I am bullish long term on Litecoin.
Interested in other's thoughts.
Happy & Profitable Trading!
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