My short-term bias is still bearish. I feel price will fall to at the least close the gap. I'm not confident this is a solid break of this short-term resistance as price has failed to take this level with any real conviction. Price is currently stalling at the 61.8 fib which I mapped out on the 1hr chart for this current retracement. self explanatory
LITECOIN could start to see a rise again as the market looks to be slowing around the key support levels around $170.00. Price looks to be slowing down as it approaches the trend line support which was once resistance. If we see bullish price action here we could look for long opportunities back into the highs.
Looking at recent events major support and resistance is forming up. The fundamental aspects of bitcoin are looking a bit more gloomy than the technical aspects. The mempool size is still at record levels around 120 000 000 bytes on a 7 day moving average, there are still stubbornly high unconfirmed transactions around 178 000 thought the average confirmation ...
UK100 is at the moment touching the strongest 7600 resistance line. There are now 2 topping tail which indicates rejection of closing the price higher. Also RSI(14) is currently nearing the overbought territory. If price can close around 7570 level, I'm planning to short it with profit target is somewhere around 7445, which is the previous strong support line.