Litecoin at $70? Potential short movement explained
4H CHART EXPLANATION:
Last week we posted a LTC/USD analysis, where price was facing the confluence zone between the ascending trendline and the support zone. This was a strong zone, so a bounce was expected there. As we can see now, it could not hold the price and was broke with a big movement. The most likely situation at this moment is a downside move towards the next support zone at $70.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly:
Last week we posted a LTC/USD analysis, where price was facing the confluence zone between the ascending trendline and the support zone. This was a strong zone, so a bounce was expected there. As we can see now, it could not hold the price and was broke with a big movement. The most likely situation at this moment is a downside move towards the next support zone at $70.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly: