LIT/USD - Massive ascending triangle formed. Bullish price!

٨ أبريل ٢٠٢١

LIT has been consistent in setting higher lows in the last few weeks, forming a very large ascending triangle which is caught within an even larger one if we are to extend the ATH resistance line.

While a simple pattern is not sufficient to be bullish, we also have confirmation on the indicators. MACD on daily is looking very good with a bullish cross four days ago and now we've had a nice re-test of support and continuation. Keep this up and LIT will soon be over $12.

RSI is also climbing higher. The only thing missing here is volume.

Price action is also bullish and once we reach this resistance at $12, I expect LIT to break it and soon after set a new all time high which would take LIT into price discovery, nice.

There is not much room left in this formation, so expect a breakout soon. Bias is very bullish still on LIT.

Like and follow if you liked this idea! Also join my crypto community to stay in touch!