Hi all, as promised this is the zoomed in 4H chart of the previous post I made on the daily chart
. You can see clearly that LTC has broken the red diagonal support, so it looks like it'll continue on to the green major support line before I think it will bounce and continue upward. It is possible it may retest and confirm the red diagonal as resistance like was seen on the previous red diagonal I have marked. If it does, I still believe it'll continue downward. I don't necessarily think it'll be a straight plummet the rest of the way, but it is possible with the sell off we have seen the past day. Personally I believe in crypto as a whole and I don't believe it'll break the lower green trend line
support. As I mentioned in the previous daily chart
, I am personally shorting down to the support line and have a buy order placed. If it breaks the green support I'll start shorting again because I think we will at least see a double bottom
of the previous low if that happens.
If you like this idea or have any comments feel free to mash the button or chime in. This is just a hobby for me more or less instead of going to the casino. Trade at your own risk and make your own conclusions. I am simply sharing my personal trading strategy. If you disagree feel free to post as well, I enjoy constructive criticism.
Thanks for checking it out.