Litecoin
Updated
The previous analysis worked out very nicely but this time there are much more uncertainties in the market. On the lower time frame if looks like LTC broke a small support line which looks like a H&S, but these are not reliable. Of course depending on what Bitcoin and Tether will do, i think the price might move in to the green zone and could slowly turn up again. If the support zone breaks with a max of around 50, the chances become very big for an even bigger drop. Only if the price can break the 54ish, we can start to think of more bullish movement. So the 54 is the level to break for the LTC bulls.
The yellow circle looks like a bear trap, that's why i don't want to see it get below the 50.
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Previous analysis:
The yellow circle looks like a bear trap, that's why i don't want to see it get below the 50.
Please don't forget to like if you appreciate this :)
Previous analysis:
Note
Never got above the 54ish and while dropping into that green zone, there was now real bounce up in that support zone. It has dropped below the 50 and is around that yellow bear trap zone. This is bad for the LTC bulls. IMO it should have stayed above the 50, now it is in a danger zone. Unless we see a push up the coming day or 2, breaking that trend line from the past 2 weeks.
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