Possible iH&S on the 4H on LTC which would be seen after a downtrend. The long wick on the left shoulder annoys me, but IMO it still qualifies as valid. I wouldn't expect anything but a short term push up though, low time frame and altcoins are still in a bear market. But might be a good play.
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Considering we most likely still have a lot of downside potential on Bitcoin left, Ethereum is starting to shape up nicely. Above the weekly open, monthly open within sight, a cross above would be significant, and I don't see why we can't test out the 0.025 sats area. So I'm going to keep my eyes peeled on BTC and Ethereum and see what's going to happen, might be...
So as I talked about in my previous BTC chart. I wanted to short 11100. That didn't really happen as I didn't catch it. Instead I've gotten around 6 scalps in, in the past days lol. Anyway
10700-10760 should be a nice area to catch a short now, nice support zone. Might go all the way back up to 11100 if you look at past history, so probably a good idea to ladder...
Following up after confirmation on bearish divergence on weekly timeframe. I'm willing to short if we can close a 4H candle below 11100. I'll either set a conditional order or just market it. The trade would look something like the picture above. I'll monitor my stop and change it as we go as the stop is quite high for my liking.
Anyway, daily 200EMA is around...
