Short

Will this key 55 USD level hold for Litecoin? Trade setup

Updated

Trade setup if this level is broken.

Note

So far this trade has worked out as planned with a violent and quick 1.5% dip below the 55 support level.

I bought back 70% of my short and how I'll be scalping and reassessing what the next likely target could be. Overall, I'm going to be trying to add to my short position to target 55 is the next major resistance to watch out for - multiple support now turned resistance.

52.7 and 51.1 are my next take profit levels. I'll likely close out most of the short if we lose the lower high lower low pattern on the hourly chart.

FrankFerriss

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