LTCUSDT Scenario
LTC is currently in a downwards channel and testing support at the 200 EMA. Although LTC has broken the support right now, you want to wait for a second candle to form under the 200 EMA to have confirmation of a continued downtrend.
LTC will likely try and find support between $120 - $116
Keep an eye out for a possible short position.
A downtrend at this point is very likely as BTC did not close above $7700 on the weekly.
I expect to see some pullback throughout the entire market this week.
RSI is almost bottomed. At this point I don't think the RSI will go above 50.
LTC will likely try and find support between $120 - $116
Keep an eye out for a possible short position.
A downtrend at this point is very likely as BTC did not close above $7700 on the weekly.
I expect to see some pullback throughout the entire market this week.
RSI is almost bottomed. At this point I don't think the RSI will go above 50.
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