Litecoin technical analysis for December 16 2017.
The bullish flag has been forming since a few days now after a very strong uptrend on litecoin.
Sellers have tried to make lower lows but we ve seen a quick recovery to higher levels. Since Litecoin is trading in a so called BULLISH flag formation and is currently bumped to the upper trendline we can expect it to...
Tom Demark count gave a red 2 on the daily chart. This is a clear sell signal. Moving average convergence divergence also confirms this.
I expect LTC bear trend to continue up to 6 more days till we reach red 9.
Scenario1: Price will drop till 86.692 (fib 0.382) and bounce from there.
Scenario2: Price will drop till 80.566 (fib 0.5) and bounce from...
