LTC is look weak for time being
Updated
So tomorrow CPI (consumer price index) data will be released.
if CPI report comes below 7.9-7.8 it's going to be bullish for all the markets and this idea will be invalidated.
but part of me believes that report is going to come above 8.0 if that happens LTC and all other coins will fall to previous lows.
There is another scenario which I am also thinking it might happen. the market will fall below previous lows before CPI reports comes out. then market will pump. (The most likely scenario)
as of now I am shorting the Litecoin from 74.40 my current target is around 68-64$
i will update the idea time to time.
Thanks .. this is not financial advice please mange your risk
if CPI report comes below 7.9-7.8 it's going to be bullish for all the markets and this idea will be invalidated.
but part of me believes that report is going to come above 8.0 if that happens LTC and all other coins will fall to previous lows.
There is another scenario which I am also thinking it might happen. the market will fall below previous lows before CPI reports comes out. then market will pump. (The most likely scenario)
as of now I am shorting the Litecoin from 74.40 my current target is around 68-64$
i will update the idea time to time.
Thanks .. this is not financial advice please mange your risk
Note
well CPI report was around 7.1 so it was bullish news so all the bearish scenario is now in the dust :)Note
so yeah we hit the target despite hitting the SL sometimes markets just punish us with SL being hit :( next time i will have a better entry, we all learn from our mistakes
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