brentonyoung

Litecoin's stronger retracement correction, stronger extension?

BITSTAMP:LTCUSD   Litecoin
Litecoin had a stronger retracement than expected from the previous mark up (no one will be perfect on every TA mark up). Now price is in a strong level around 0.618-0.707. wicks are seen on the 4hr, but on the 1 hr they are strong candles. overall, It does look to be a big bullish flag pattern but in the smaller patterns we are seeing signals for a breakout fibonacci extension that can ignite the Bullish flag signal sending Litecoin to the ATH and maybe a new ATH when the price has broken the bearish trend line and resistance level. If all of the following happens, be prepared for mooning season. It would not come off as a shock if Litecoin hit $400 by end of January

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