LTC/USD - Back on support. Bearish on the short term. 🙄
Litecoin tried to pump above $250 but was dragged down during the market dump yesterday and has failed to hold at $250.
For this reason we got to search for support at lower levels. We seem to have a nice ascending trendline which can act as support, if that won't hold us then the next trendline should do the trick.
Unlikely the market will dump again to the same extent as today we have slowed down considerable in the downtrend. Tomorrow will be decisive.
For now the bias is somewhat bearish because of the indicators. In the best case scenario we will consolidate at the current support.
Regardless LTC should have a strong performance in this bull market, despite such corrections.
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For this reason we got to search for support at lower levels. We seem to have a nice ascending trendline which can act as support, if that won't hold us then the next trendline should do the trick.
Unlikely the market will dump again to the same extent as today we have slowed down considerable in the downtrend. Tomorrow will be decisive.
For now the bias is somewhat bearish because of the indicators. In the best case scenario we will consolidate at the current support.
Regardless LTC should have a strong performance in this bull market, despite such corrections.
Like and follow if you liked my idea!
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