SUMMARY
LiteCoin has patterned out a downward wedge (blue) and unlike Bitcoin, the second pattern is a bull flag rather than a rounded price formation. Still, the combination of these two patterns is a power potential. Price has broken out of the bull flag pattern and is correcting. The key question is what's next?
The blue impulse wave shows that five waves completed. The current correction can also be patterned into a downward wedge which is nearly complete. IF this wedge pattern is correct, then it's nearly complete. Price should turn up as shown by the arrows. The MACD is now becoming almost a giant symmetrical triangle. The potential energy stored in this coiled pattern could support an explosive reversal.
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