I don't see the chart showing in my post.
Link is http://i41.tinypic.com/30sbm0o.jpg
Topic: LTC - Short term downward channel? (Read 380 times)
Looking at the 4h chart for LTC/USD, it looks like a downward channel formed. If it hits the bottom of the channel, we could see a sub $10 LTC in the next 48 hours.
Sorry, can't draw on the chart in MT4 for iPad, but it's pretty clear anyways.
If it breaks upwards out of the channel, we will probably see some nice new highs, but in the short term, it looks like a good opportunity to sell and rebuy lower.
The volatility could take it anywhere at the moment, but its a pretty nice chart looking at just technicals.
What do you think?
Sorry, can't draw on the chart in MT4 for iPad, but it's pretty clear anyways.
If it breaks upwards out of the channel, we will probably see some nice new highs, but in the short term, it looks like a good opportunity to sell and rebuy lower.
The volatility could take it anywhere at the moment, but its a pretty nice chart looking at just technicals.
What do you think?
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