Ylo
Short

LTC making a drop down?

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
point of view on the LTC market.

On the daily frame which you can't see right now LTC is facing the 50sma and 200 ema . Paired with that LTC is currently as i see it in a bearish cypher pattern combined with the bearish divergence we can see in the RSI and Macd indicators below.

I feel like this might be a good opportunity to go short on the LTC market also because Bitcoin has struggled to surpass the 3900 levels. If Bitcoin isn't able to close above the 3900/4000 levels it's likely the market will first cool off a little bit.

This is no trading advice and neither it's meant to be educational, it's simply my analysis that i want to throw out!

Best regards,

Sem
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