Litecoin shows the value of price channels

readtheticker studies the old masters (Gann, Wyckoff, Livermore, Dewey/Hurst/Cycles) but it has to be said simple price channels clearly show the support and resistance road map for price.


NOTE: RTT Plus members can review our library of 'Big Channels' charts, via RTT Charts (main menu in RTT Plus)

Chart 1 - See how (log) price moves between the parallel channel lines, forecasting zones of support and resistance, as well as rally's and sell offs targets becomes a breeze.

Chart 2 - You can measure a price swing move by seeing how it moves between channel lines, the last LTC rally went from 50 to 400 or 3x blue channels. The price low after the July 2021 correction was near $120, so add 3x blue channels widths (same as before) and your new target is near $1000.

Original Post: https://ift.tt/3n6LWH2