Litecoin HS formation on may 19th closed on the 22nd and 5 days after a big inverted flag confirms the negative trend. My attention on this educational, focuses on the three EMA lines in red, blue and orange.The 15, 30 and 50 days moving average have spread out widely and are pointing down. They are acting as resistances in particular the 15 in red for the past 48 hrs.
The top of the flag in black overlaps a $123 old resistance in green. The 30 in blue and the 50 in orange have not been in play yet!
My sentiment has switched to negative and considering the lack of volume,we could test lower supports soon.
My advice is to stay in cash and reenter only when the 15, 30 and 50 EMA have been cleared.
For the long term holders "Buy Season is Open"
This is only my opinion not to be taken as financial or trading advice.
Be Wise!
The top of the flag in black overlaps a $123 old resistance in green. The 30 in blue and the 50 in orange have not been in play yet!
My sentiment has switched to negative and considering the lack of volume,we could test lower supports soon.
My advice is to stay in cash and reenter only when the 15, 30 and 50 EMA have been cleared.
For the long term holders "Buy Season is Open"
This is only my opinion not to be taken as financial or trading advice.
Be Wise!