LTC has been a weird one chart wise up through this time. Bollinger Band analysis seems to provide the clearest insight into a potential pop.
Note:
Head fake - Bearish candles hit bottom BB and found support to bounce from (Pink Box)
BBW is at a lower extreme (Blue Box) - the tightening of the bands should open up and give way to upward movement
Look for weekly close above upper BB
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Drawn out quite a bit longer than I had expected, but it looks as though we are beginning to see action towards a strong breakout move.
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;*
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Position has been accumulated. I will be adding more based on the price context as we progress. First and second targets remain $5.386 and $6.761 respectively (pink lines). If we make it all the way through the orange this should actually get fun.
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Daily view to follow better
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Big dumps across the board. Time to watch da red and reset.
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Opening back up long down here. Today's dips seem more and more of just minor correction. Will re-evaluate completely if we get some real heavy down.
yup, also on the 1d chart--ltc/cny just had a golden cross (when this happaned to btc price was in the 2XX's or so and has never looked back) interesting that its gearing up now with the latest development update due to be released any day now...
bysteven
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descending triangle currently...not bullish :(
Aerot
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@bysteven, Ty for your example on how not to read a chart.