LTCUSD Breaking down?
Position: Leaning Bearish
Alright, so my last call on this one was not dead on, but I still think it holds true that it could break down. I adjusted my lines accordingly.
Lot of different names for this sideways setup. Bull flag, bear flag, head and shoulders, box play. Take your pick. Here's the deal. If we break below this 205ish level, we are most likely going to see the 160-170 area and potentially further down. If we break up, with solid sustained buying, we are going to $300. I lean bearish, but we will see.
To be clear, LTC has been much stronger lately than BTC or ETH. If we get deep pushes down with both of those, I don't think LTC will break it's $100 low. That's pure speculation, but it would fall in line with the patterns its been making.
I have buys set up at both those areas. Should be a great play.
Happy trading!
-Sherem
Here's my last call for what its worth -
Alright, so my last call on this one was not dead on, but I still think it holds true that it could break down. I adjusted my lines accordingly.
Lot of different names for this sideways setup. Bull flag, bear flag, head and shoulders, box play. Take your pick. Here's the deal. If we break below this 205ish level, we are most likely going to see the 160-170 area and potentially further down. If we break up, with solid sustained buying, we are going to $300. I lean bearish, but we will see.
To be clear, LTC has been much stronger lately than BTC or ETH. If we get deep pushes down with both of those, I don't think LTC will break it's $100 low. That's pure speculation, but it would fall in line with the patterns its been making.
I have buys set up at both those areas. Should be a great play.
Happy trading!
-Sherem
Here's my last call for what its worth -
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