(Scalping/Short term trading)
The next couple of hours I think will determine the near term for LTC. We are caught in a strong downtrend, but meeting heavy resistance currently.
As marked on the chart - I think the check marks a great indicator of a reversal, and I think the X offers a great point for another short. Take a break and retest at the X is a safe buy.
If we hit X I believe the next 2 major levels will fall. My recommendation is not taking any bounce buy opportunities until we're out of the trendline and wait for the next significant dip. If you're shorting... another strong dip if we run into the nasty bearish X on my chart :)
The next couple of hours I think will determine the near term for LTC. We are caught in a strong downtrend, but meeting heavy resistance currently.
As marked on the chart - I think the check marks a great indicator of a reversal, and I think the X offers a great point for another short. Take a break and retest at the X is a safe buy.
If we hit X I believe the next 2 major levels will fall. My recommendation is not taking any bounce buy opportunities until we're out of the trendline and wait for the next significant dip. If you're shorting... another strong dip if we run into the nasty bearish X on my chart :)