Ifuloseulose
Short

Bear flag fomation

BITFINEX:LTCBTC   Litecoin / Bitcoin
68 views
3
68 0
After the capitulation sell off on LTC and most other alts during the end of March LTC had a 12%+ bounce which lead to a formation of a bull flag . After the successful upwards breakout of the bullflag this caused an increase equivalent to the pole of the bullflag which then got rejected by the horizontal resistance level around 0.0182 sats 1.26% . This has now created a bear flag and I will be looking to short the bounce from here or the breakdown from this formation, my personal target is the horizontal support level around 0.015 sats 1.26% .

If you zoom out on the daily chart you can see LTC is forming a replica of its bastard formation of a triple top, this also paired with the bearish sentiment of the overall market is making the breakdown of this flag formation ever more possible.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out