LTCUSDT Short scenario
LTC had created a nice W formation and has now formed an inverted bear flag at the end of it.
This could be a good potential short setup.
We want to watch for first a break of the 50 EMA and then a break of lower trend line with confirmation.
If we break the lower trend line we will likely head back down to support around $116 then $109 if that doesn't hold
RSI is on a downtrend and currently hovering around 55
This is not financial advise. Just sharing a potential scenario.
This could be a good potential short setup.
We want to watch for first a break of the 50 EMA and then a break of lower trend line with confirmation.
If we break the lower trend line we will likely head back down to support around $116 then $109 if that doesn't hold
RSI is on a downtrend and currently hovering around 55
This is not financial advise. Just sharing a potential scenario.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.