LTC Ripe For Breaking Trendline
Atualizado
After its spectacular bull run, a reliable trendline appeared for 
LTC. It's testing the support over and over again.
Let's note the volume. It's not enough to protect this price level or carry it higher. This steep trend line, once broken decisively, will mark the end of current bull run.
There's also a triangle pattern which can be a reversal signal at this point. From a broader perspective this can be interpreted as a complex H&S pattern as well.
Looks like it's time to shortLTC. A conservative approach would be placing stop orders to trigger when the trendline is broken.
Although there is historical support at different levels, it can go as lower as the red long term support.
LTC. It's testing the support over and over again.Let's note the volume. It's not enough to protect this price level or carry it higher. This steep trend line, once broken decisively, will mark the end of current bull run.
There's also a triangle pattern which can be a reversal signal at this point. From a broader perspective this can be interpreted as a complex H&S pattern as well.
Looks like it's time to short
LTC. A conservative approach would be placing stop orders to trigger when the trendline is broken.Although there is historical support at different levels, it can go as lower as the red long term support.
Trade fechado: stop atingido
This time I was right. As I guessed it broke the support.It even retested the line and it functioned as a resistance now. Check the order books and you'll see the bearish mood already. It may be wise to sell now.
Disclosure: Right now I'm short #LTC and I will probably keep this position at least one week.
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