LTC is struggling

31 de dez. de 2017

so we have breached 225 support and it now became our resistance. selling pressure was strong when we hit 200$ but never the less we quickly jumped back into the channel and the same thing happened at 225$. buying pressure was strong but we bounced back down again. that was classic bear trap, if you didn't wait for candle to close above 225$ resistance and you bought immediately after it breached you got burned. now we are in this weird channel where we can't be sure where the price will move, we can either wait for one line to be broken or we can make short term trades, but one thing is sure, if we manage to breach 225$ resistance we will see upward movement and we can open some long positions but if we stay in this channel long enough that we touch downward trend line, we should see price plummet below 200$ mark

previous idea: