LTCUSD - Charlie bit me

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
break it down

More refined idea.
Nice idea on LTCUSD and there may be potential gains as you have identified by going short. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first resistance at 50.38. It is a horizontal pullback resistance, 38.2%, 23.6% Fibonacci retracement and a 61.8% Fibonacci extension. RSI is approaching resistance and we might see a corresponding drop in price. If a corresponding drop does occur, we may want to take a look at the 47.19 support level. It is a horizontal swing low support and a 100% Fibonacci extension.
Please take a look at our idea and share with us what you think.

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