In my opinion, a horizontal channel is building within the down channel. The top might be a little higher, hence the red rectangle.
Maybe we will break out as shown by green arrow. This would most likely be the bottom then. I am not ready to commit to that.
Bearish scenario is rejection at the down trend and loss of the horizontal channel. This would see the price dip to around $15 and then ultimately $10.
For those thinking that a $10 bottom is absolutely crazy, it would still represent a roughly 10x gain over the previous bottom. Something to think about anyway.
Bigger picture
Maybe we will break out as shown by green arrow. This would most likely be the bottom then. I am not ready to commit to that.
Bearish scenario is rejection at the down trend and loss of the horizontal channel. This would see the price dip to around $15 and then ultimately $10.
For those thinking that a $10 bottom is absolutely crazy, it would still represent a roughly 10x gain over the previous bottom. Something to think about anyway.
Bigger picture
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Revising the channel here
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Yes pamp eet Charlie!!
OG channel broken, but revised channel remains as next target
OG channel broken, but revised channel remains as next target
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LTC hit top of channel. hasn't tanked yet though... interesting
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Litecoin breaks log down trend plus 200 day MA !
Litecoin compared to Mayer multiple: twitter.com/BarclayJ.../1076130626489729024