lately LTC has been moving in upward channel and made some good bullish steps.
as you can see LTC did brake above the channel and still is.But at the current moment its looking like its forming a bearish flag and wants to drop in to the channel again.
IF this happened it most likely wants to test the bottom of the channel 136.823 USD.
And this fits perfect because the 136 was the bottom of the descending triangle we broke down from a while ago.
right above the 136 you have the 50 EMA (orange) and 200 EMA (blue) that just made a golden crossover.
So we can find some good support here and the correction would just been healthy after such a nice bullish run.
The MACD on the 4H chart has already made a bearish crossover and the RSI is moving down.
On the 1H chart the macd is about to make a bearish crossover soon it looks like, and the rsi is almost at the top of the 70 level so reversal here could happened soon.
this are good since of the bearish flag.
On the other side if we brake up of the flag a long trade could be place if we close above 155 USD
either way i will be trading on of them I’m just waiting.
Short trade
Entry price 147-146 USD
Target 138-136 USD
Long trade
Entry price 155-156 USD
Traget 166-168 USD
Good luck
i am no financial advisere just simply telling you my trade setups
Give me a like if this helped you
as you can see LTC did brake above the channel and still is.But at the current moment its looking like its forming a bearish flag and wants to drop in to the channel again.
IF this happened it most likely wants to test the bottom of the channel 136.823 USD.
And this fits perfect because the 136 was the bottom of the descending triangle we broke down from a while ago.
right above the 136 you have the 50 EMA (orange) and 200 EMA (blue) that just made a golden crossover.
So we can find some good support here and the correction would just been healthy after such a nice bullish run.
The MACD on the 4H chart has already made a bearish crossover and the RSI is moving down.
On the 1H chart the macd is about to make a bearish crossover soon it looks like, and the rsi is almost at the top of the 70 level so reversal here could happened soon.
this are good since of the bearish flag.
On the other side if we brake up of the flag a long trade could be place if we close above 155 USD
either way i will be trading on of them I’m just waiting.
Short trade
Entry price 147-146 USD
Target 138-136 USD
Long trade
Entry price 155-156 USD
Traget 166-168 USD
Good luck
i am no financial advisere just simply telling you my trade setups
Give me a like if this helped you