Litecoin Gets Rejected At The Top of My Bear Flag (LTC)

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Hi friends! Welcome to this update analysis on Litecoin! Let's get right to it! Looking at the four hour chart, you can see that LTC was rejected at the top of the bear flag , and now it's heading lower. Just below the current price action, is the 20 EMA (in blue) followed by the 50 EMA (in orange.) These levels should act as initial support, as we move back into the middle of the flag. If those two averages are lost, look for LTC to return to the bottom of the bear flag . On the MACD , you can see that it's rolling over to form a bearish crossover, as the sellers start to step into this overcharged market. Litecoin tried desperately to rally above the bear flag today, but it just didn't happen. Keep an eye on those moving averages. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-


can this be a cup and handle with a target 155ish? if broken out and confirmed I mean, which hasn't occurred at this point?
@Snuby3, looks like it and with the 6% rise today we always hope
Poopie, that's a second breakout of a bear flag. You need to redraw it and sell more.
I just went all-in on LTC. Simple reason - always made money when I do the opposite of what you post:) I think this coin is going to go to at least $'s had far too much lagging.
+3 Reply
Spoke too soon lol
+1 Reply
It will break out to the upside I think
+1 Reply
In a manipulated market, going against a good Ta and the crowd is the way to survive. Whales will pump when you guys short. Lol
+3 Reply
Always nice reading your stuff. Love your style man. Keep going your work is truly appreciated

+7 Reply
Magic, Thank you again for your great TA .
+5 Reply
Poop you need to do ETH chart. Been awhile bro. Or are you waiting for it to come back inside the downtrend channel and then update?
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