Litecoin- Bearish Triangle is forming
Updated
LTCUSD
After reaching the 69.00 level price felled towards 45.33 and got some minor support and bounced up to 49.50
We can see a triangle formation in a bearish trend which will further triggered the selling of litecoin
In 4hr timeframe head and shoulders pattern is formed and the bullish trend line is also broken on September 02, 2020 with the long bearish candle
The price is just below the 50.00 mark which is a major psychological level and acting as a resistance level. just above at 50.71 the 61.8% Fibonacci level is also acting as a resistance
The next target would be 40.00 which is also a major psychological level and low volume area and profit taking area. At this level we can expect minor rebound of LTCUSD.
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Disclaimer
It’s not a financial advice. Do the analyze and take a decision.
After reaching the 69.00 level price felled towards 45.33 and got some minor support and bounced up to 49.50
We can see a triangle formation in a bearish trend which will further triggered the selling of litecoin
In 4hr timeframe head and shoulders pattern is formed and the bullish trend line is also broken on September 02, 2020 with the long bearish candle
The price is just below the 50.00 mark which is a major psychological level and acting as a resistance level. just above at 50.71 the 61.8% Fibonacci level is also acting as a resistance
The next target would be 40.00 which is also a major psychological level and low volume area and profit taking area. At this level we can expect minor rebound of LTCUSD.
Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
Disclaimer
It’s not a financial advice. Do the analyze and take a decision.
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