LTCUSD false breakout? Bearish pattern after breakout

Litecoin / DollarBitfinex

Description

⋅ Feb 20, 2018 9:22 AM

As we can see on LTCUSD 3h chart, bearish shooting star is formed after a bulls rally.
For now, PRICE TRADE BELLOW SHOOTING STAR'S REAL BODY, which is confirmation of bearish pattern, and if latest candlestick close red, then it will be a stronger bearish sign.
Bull trap?

Chart Patterns Trend Analysis

Comments

lumanga

⋅ Feb 20, 2018 10:05 AM

NO! Just consolidation on 1h chart!!
Wait and it will go up again for the 26th announce!

Dinore

⋅ Feb 20, 2018 10:11 AM

@lumanga, Of course, we all expect LTC rise due to 26th announce, but meanwhile, the price could drop to 23x level before a bigger bull rally.