You can see we are setting up in a head and shoulders pattern. There is also hidden bearish divergence which can be found in the RSI. Watch the targets to see where we will stop once the right shoulder fills in! This is linked to my longer LONG LTC idea: . Litecoin's Secret Weapon to 200 by Halving!
I believe we will eventually touch the blue support. If it doesn't happen here, look for sideways consolidation into the blue support. If the right shoulder were to break up instead from for example a BTC sudden run that pulls alts with it, look for $95-$100 to be tested again.
This is not trading advice. This is still a speculative market. Do your own research.
Sorry for the 2nd link, I cannot seem to get it to have no hyperlink but it just links to my LONG chart as well.
Note
still looking like the drop is about to pan out. RSI has just hit resistance and is right in line with previous bearish divergence trend... A move is near!
Note
Updating from my phone sorry if any typos. Have adjusted the chart and as you can see we have started descent to the neckline and have kept the bearish divergence on the rsi.Note
became more clear as we developed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.