Litecoin Rejects Inverse Head and Shoulders!! 😱

Litecoin has rejected our inverse head and shoulders pattern! This is a very bearish sign for LTC. It started to breakout from the neckline at $280, but this was swiftly sold back and we smashed through multiple levels from there to finally stop the bleeding at $217. We have broken the level constituting the head of the pattern at $233. This will provide resistance as we try to recover. It looks like we are seeing good support at current levels, validated by a green triangle on the Kovach Reversals Indicator. If not, $209 and $202 will provide further support.