LTC has recently formed some Hidden Bearish Divergences at these levels on the MACD and when looking at the Potential Harmonic Wave Structures it could get in if it goes down, many of them point towards $45 as that would be a second test of a much bigger Macro Log scale Gartley on the left, the PCZ of a current Potential Bullish Deep Gartley, and the PCZ of a Potential Bullish Butterfly.
After hitting those downside targets we could then see Litecoin go for another big move up; this time actually breaking the range to the upside and going for bigger targets perhaps as high as over $9000 as seen in this macro chart here:
omg, what a terrible analysis, are you really shorting based on one indicator in a bullish market. LTC/BTC at support levels and it have halving in one month.
RizeSenpai
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@Anti_FOMO, Yes, I am aware that LTCBTC is trading at support, but I am also aware that LTCBTC has left room at the lows for a significant square up that could take it down to 18,003 Satoshis and that fact alone brings huge doubts to the idea that the support will hold this time around, especially since it is currently back testing said support as resistance and is on the path to Harmonic Failure as seen here: The best possible and most comfortable outcome would be for LTCBTC to come back down to those levels to square up, then for it to make it back above the support level. From there, many doubts could then be set aside, but for now, the chart is signaling a pullback.