Bullish Pennant after strong move – GO LONG

Bullish Pennant after strong move – GO LONG

LTC/USD COINBASE:LTCUSD


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Litecoin reacted positevly on a new that it can become a fork – right now we can see a Bullish Pennant Formation with projected MPO             -0.35% near 300.

Litecoin declined into our projected important support as expected and turned just like BTC             -2.92% and ETH, so it’s
first evidence that correction is over. On weekly, logarithmic scale chart market is showing a correction of
wave IV that can send price higher from current support based on a weekly reversal candlestick .

On daily chart you can clearly see only three waves (a)-(b)-(c) down with ending diagonal in wave (c), which
is the most important evidence that correction could be completed, especially if we consider that on 4hour
chart recent push out above upper line of an ending diagonal can turn into a support. There is a chance that
1175 is broken which can make room for 200, or even 300 area.

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