LTC Litecoin, bearish break of triangle, moving back in again?
Litecoin made a bearish break of the triangle but no big drop happened and so far the former support is getting tested. It is almost starting to look like a false breakout even. If the bulls can break that red resistance on right chart, it will be a first confirmation of that false break out. Still nog seeing the volume to confirm all this though. I have been accepting that volume in general is lower but i want to see at least a volume candle that is higher that the average of the past weeks.
That trend line already broke, which is a very good sign. Because yesterday it got rejected but the bulls did not give up and made another attempt and the first important step has been made now.
When we look back at my previous analysis, my assumption was that a break of 50.0ish would be very bad. The 50 broke but we have not seen follow through. We can also see that the price bounced up again from the same level of 2 months ago, a level i thought of being a bear trap level.
Previous analysis:
That trend line already broke, which is a very good sign. Because yesterday it got rejected but the bulls did not give up and made another attempt and the first important step has been made now.
When we look back at my previous analysis, my assumption was that a break of 50.0ish would be very bad. The 50 broke but we have not seen follow through. We can also see that the price bounced up again from the same level of 2 months ago, a level i thought of being a bear trap level.
Previous analysis:
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