LTC/USD inverse H&S could bring the BTC pump we're waiting for
Today the second shoulder reached the bottom objective at the LTC/USD chart for a potential inverse H&S pattern (which has been a bullish sign previously). If we see the completion of that second shoulder, we could expect a price target of around 136 usd, where we'll find some resistance as seen in June 2019.
I've been watching closely LTC/USD these last months and it seems that first we see the pump or uptrend in LTC and after that BTC follows it. Hopefully, we can expect BTC to climb to higher price ranges. However, I think, first, BTC should go a little bit lower to reach the second shoulder bottom (around 7300 usd) so that it can complete the inverse H&S pattern in the BTC/USD chart. That would also mean that BTC could find the support and bounce at the 100wma.
We need some more days to see how these patterns develop.
I've been watching closely LTC/USD these last months and it seems that first we see the pump or uptrend in LTC and after that BTC follows it. Hopefully, we can expect BTC to climb to higher price ranges. However, I think, first, BTC should go a little bit lower to reach the second shoulder bottom (around 7300 usd) so that it can complete the inverse H&S pattern in the BTC/USD chart. That would also mean that BTC could find the support and bounce at the 100wma.
We need some more days to see how these patterns develop.