LTC - The #Halving is Around The Corner ⏱

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

LTC has been trading within a significant range between 85 and 100. Currently, from a short-term perspective, LTC is showing a bearish trend as it is trading inside a descending red channel.

The upcoming LTC halving is worth considering (in 24 hours), and two potential scenarios can be anticipated:

📈 Scenario 1: Bullish Takeover - Medium-term perspective
For the bulls to gain control in the medium-term, we need to observe a daily momentum candle closing above the key round number of 100.0.

📉 Scenario 2: Short-term Buying Opportunity
In parallel, if LTC's price approaches the demand zone near 83.0, we may look for short-term buy setups on lower timeframes.

This could present an opportunity for traders to capitalize on potential price rebounds from the support level.

Which scenario do you think is more likely to happen first? and why?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich