This is my first shared analysis within TV, I welcome any constructive criticism!
I'm short on LTC in the short to midterm sitting in a descending channel with bearish divergence on the RSI and Phoenix Ascending showing energy has been higher than the green within several timeframes.
If we break out of the channel downwards (which I think is likely) we'll find solid support around ~$170, this could be a great long open as I think we could see LTC gain more upwards momentum towards $230 where it would be in for another struggle.
I'm short on LTC in the short to midterm sitting in a descending channel with bearish divergence on the RSI and Phoenix Ascending showing energy has been higher than the green within several timeframes.
If we break out of the channel downwards (which I think is likely) we'll find solid support around ~$170, this could be a great long open as I think we could see LTC gain more upwards momentum towards $230 where it would be in for another struggle.
Comment:
Working out perfectly so far. Opened short at $187, closed at $173. 2nd half of the plan up is in motion... Hopefully it keeps pumping!
Comment:
Almost there, short entry goal met and we're well on our way to the long goal.