In this analysis i spot a regular bearish divergence on weekly timeframe So there is 2 scenario - This is a sign of weekly retracement or - This is a sign of a reversal into a bearish trend for the new trend change
The chart has just completed two Bearish nested BAT patterns. It is likely to go down until the next important support in the chart.
Litecoin for the past few weeks has formed a pretty substantial bearish divergence on the 1H, 2H, 4H and Daily RSI. The price is also entering an area of resistance. This could indicate the possibility of an imminent dump, especially considering Bitcoin has formed another smaller divergence on the 1H, 2H, and 4H time-frames.
This chart is a treasure map, all could happen, it only delimite some zones that is relevant in my vision. Following some important zones explanations. I don´t believe in support and resistance lines, but in zones (areas). Explanation for areas (zones) : I believe in the current moment we are not in a downtrend, but it is a correction of a violent pump...