Here is the 4 hour chart for LTC:
If you can see the bottom of the chart you can see a second point touching the bottom of this channel. I have been wrong for the longest time trying to find the bottom of this drop but would like to continue to show possible set ups for when this drop might be over. The best time to get in would be when it breaks out of the upper bounds of the channel as that would show resolution of the downtrend.
If you are following the cryptos as much as I am I would like to add that there are a lot of different charts you can go by and I have found a difference in charts from one exchange to another. I would like to share an example of the current 5 minute chart of LTC. Now I know this is a very small time frame but it shows two very different pictures.
5 min chart: LTC (Binance)
5 min chart: LTC (Coinbase)
Now as you can see they are very similar charts almost exactly the same as you might think they should be however, if you look at one Coinbase's chart, you can see it clearly broke through the resistance line and is making a consolidation pattern and we're looking for possible upside from this. However, on the Binance chart it is much messier and doesn't clearly show a breakout or consolidation. This is something for those of you out there watch carefully when you're looking at what the upcoming trend might be as there are a lot of charts out there that can give you different data.
If you have any thoughts or opinions on possible charts that you've found reliable please share in the comments below.