I have been writing a bit about the long term downward trend (orange line) which has some good potential to last a while (potentially into the summer) if it continues to hold, but the short term wedge (red line and green line) looks like it will culminate within the week. Once again LTC is near the bottom of this downward wedge, so it should be interesting to both see what direction it breaks as well as what effects that might have on both BTC and LTC.
With BTC trending near the bottom of its current upward channel and LTC now breaking out downward out of a wedge, it makes me wonder if this might mean that BTC will trend downward and LTC will either not follow or follow drastically, or will BTC trend upward and LTC will follow more drastically? Either way, it should be an entertaining week for the pair.
With BTC trending near the bottom of its current upward channel and LTC now breaking out downward out of a wedge, it makes me wonder if this might mean that BTC will trend downward and LTC will either not follow or follow drastically, or will BTC trend upward and LTC will follow more drastically? Either way, it should be an entertaining week for the pair.