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LTCUSD 4H: 40% correction warning S/R broke down(SL/TP)(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup ::: LTCUSD 4hour chart review ::: updated/revised outlook ::: expect cycle low at 80 USD ::: later April 2022 ::: weakness will last for 4-8 weeks ::: LOG SCALE chart ::: not a great looking chart ::: price contained within BEAR channel ::: S/R was re-tested and we are still flushing ::: price/ RSI div very clear on D1/H8 TF ::: expecting correction/pullback mode ::: sequence of lower highs: BEARS ::: limited upside from here capped by 130 USD ::: short-term BOUNCE PLAY possible BULLS ::: so you can BUY DIPS / EXIT 130 USD ::: lower risk: SHORT FROM 130 USD TP 80 USD ::: 40-60% correction possible next ::: 4-8 weeks in Q1 2022 ::: right now no upside in this market ::: position traders should wait for ::: better entry prices later after ::: correction MODE in PROGRESS ::: recommended strategy: SHORT SELL RIPS/RALLIES ::: TP BEARS is +40% gains 80 USD ::: BULLS stay out until correction is over ::: SWING TRADE: SHORT/HOLD IT from HIGHS ::: correction run not over yet ::: good luck traders! ::: BUY and get paid. period. 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment mid-term: BEARS/CORRECTION ::: Sentiment short-term: BEARS/CORRECTION
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