InvestingScope

Triangle continuation test. Still bearish on the long term.

Short
BITFINEX:LTCUSD   Litecoin
LTCUSD is, as most top tier coins, extending the neutral 1D movement (RSI = 50.388, CCI = -8.4536, Highs/Lows = 0.0000) within the Triangle and is near pricing a Lower High on the 1W Channel Down (RSI = 38.860, MACD = -21.113, Highs/Lows = -0.7386, B/BP = -20.3760). If rejected, the Triangle should break below 54.470 towards 49.500 and 42.000. If not then it will test another Lower High at 63.250 for rejection to 42.000. Due to the underlying selling pressure on 1W, we remain short on Litecoin with TP = 40.285.

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