LTC what they are not telling you UPDATE

LTC what they are not telling you update

Welcome come back my beautiful people.
lets goe true what has happened since yesterday.

THE CHART
yesterday we can see that the flag was broken and had a rally up to 136.620 USD
just above there at 137.281 USD we had a massive resistance that LTC almost touched before it got slammed down again.This is what i would called a fake breakout
it just confirmed that the bears where waiting for the bulls.
LTC is trading below the 50 EMA and 20 EMA now and that is very bearish.

I said yesterday that we could break to the upside of the flag and it did.
but we quickly turned over.The bigger picture is still very bearish
thats why i said if u wanted to trade this u should have a stop loss just above the 50 EMA

THE RSI
The rsi got extend more then what it has done lately but got slammed really hard down right after,just like the candles.On the forth touch of the green line it broke you can see similar moves on thee other green lines if u look after.I made some red lines swell on this chart just to see how many touches it makes before it breaks up so this is some thing we can watch aswell.

THE MACD
The mad has made a bearish crossover around the 0 point as i told you yesterday not much to say about that except for it bearish now.

THE CONCLUSION
WE ARE BEARISH as i said yesterday.
it looks like LTC is making a small bearish flag right now before if/when drops down again.
maby we need a candle or 2 before it happends.
i have taking the measure of this flag and the target is taking us below the big flag pole at 99.076 USD if/when it breaks down.

For those who got in when LTC turned down again or when it drop into the big flag again around 125 USD
Congrats people.


I am not the legend @magicpoopcannon is, i am just the apprentice and go by the name CRYPTOCHICKO for now.


*200 EMA blue line
*50 EMA orange line
*20 EMA black line


This analyze is not for trading recommendation i am just telling you what i would do.
The flag could brake to the upside this is trading you never now what can happen

IF u like this please give it a like that is all i asked for :)

Comment:

If we breakout to the upside of the small flag we could see a similar move as yesterday, but a breakout to the upside is not most likely.

The 20 EMA is on its way in to the flag and will most likely push LTC down if it dont drop before that.

Comment:

And there you have it guys a closed candle below the small bear flag finally :)
it took longer then expected.

so we are on our way to our target now :)
lets us now just brake below the big bear flag target aswell :)
Im considereing making a chart with targets of the big bear flag for shorting .

let me know what u think :)

good luck