Krystiannwk

LTCBTC possible short towards 50% level

Short
KRAKEN:LTCUSD   Litecoin
I see here slight potential for short position. Level 78.60% wasn't breached for the last 8 hours. My experience tells me that the last two shadows are not the lowest lows and the pair will try to go down below 10 dollar mark. I wouldn't be surprised if the market would try to test 10$ few more times. I personally believe that as such.... :)) the smaller intervals then 4H in cryptocurrency market are not reliable source of market information. I set SL and TP. Whatever will happen I would watch 10$ level carefully.

I see two possibilities here

If the pair go thru 10 dollar mark it should go further south and then probably it should reach 50% level of the strong bullish movement

If the pair will be sustained above 10$ level it will create strong support and good indicator for further gains of LTC

...once again I think that when pair will meet 200 Ema on 4H there is a good chance that the price will get nice push but I'm not sure if it will last long or just bounce for short period of time just to go back down.

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