I started tracking this formation about a week ago. What I saw was a descending triangle formation during the correction off of the double top during the explosion a few weeks ago. My prediction was that LTC would start a bullish trend once it finished bouncing around the lower and upper converging lines you see on the graph that follow the peaks and troughs since the bullish phase. I was pretty close, but off by a few days. Today, LTC broke the upper trend line and appears to be poised to start a bullish phase. I was pretty excited that I called this one as closely as I did. I suspect an impending New Years feeding frenzy.
I'm not sure how far the next surge will go, because I'm not convinced that Coinbase has the hardware infrastructure to handle the volume. They have been getting slammed, and during each feeding frenzy (most recently, Bitcoin Cash), the site crashed several times. Wire transfers have been delayed, and have taken as long as 10 days to settle. Hopefully they will be able to grow the network quickly enough to handle what is in store for 2018.
