Litecoin has formed a huge 3 year Shoulder/Head/Shoulder bottom. The neckline at 178.20 was broken yesterday activating the bottom-formation for a continuation higher towards the S/H/S target at 324.63. On the way higher, we see solid resistance near 229, but it should make a temporary hurdle before continuing higher.
The broken neckline will now act as support at 178.20 followed by support at 164.60, while key-support is seen at 123.10.
Trading recommendation:
Buy Litecoin here and place your stop at 123.00
