Litecoin has formed a descending triangle pattern, which is a bearish continuation pattern. I would expect LTC to break to the downside and continue lower in the short term.
@Xclusive_5, I think it is all subjective, to me it looked more like a triangle. Thanks for the comment.
bedarija
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@Xclusive_5, yeah i would say is falling wedge for now. a correction before new ATH
alex.ilie1988
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Correct definition
Bigsky_Crypto
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@alex.ilie1988, Yeah, the more I look at it now I suppose you could draw a channel also. Either way, my view was that LTC was headed lower. I Still think it could drop a little more, I would love to start rebuying around $250. Thanks for the comment.
austinmfcoats
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So good idea to sell some of our holdings and rebuy later today?
Bigsky_Crypto
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@austinmfcoats, I have been selling some on the way down after LTC peaked, I am not going to sell all I have but wanted to take some profit. LTC is actually holding up better than I thought, by now I thought it would be under $250. I am still very bullish but could see just how overextended LTC had become. I look forward to rebuilding my position.