We need some more confirmation before we enter a short position here but we have spotted the following on the LTC/USDT charts
- Weekly orderblock resistance
- daily multiple bearish divergences
- Risinging wedge
- declining volume on rise
- already x6 since bottom
- Previous weekly formed an indecision candle against resistance
We are now 56 days before halving, last LTC halving, the price dropped 74% in 46 days before previous halving (will show below in updates)
We are also painting a similar pattern as previous halving
also we can see the following on LTC/BTC (will also post below in updates)
- 0.618 fib resistance
- strong horizontal resistance
- Weekly orderblock resistance
- daily multiple bearish divergences
- Risinging wedge
- declining volume on rise
- already x6 since bottom
- Previous weekly formed an indecision candle against resistance
We are now 56 days before halving, last LTC halving, the price dropped 74% in 46 days before previous halving (will show below in updates)
We are also painting a similar pattern as previous halving
also we can see the following on LTC/BTC (will also post below in updates)
- 0.618 fib resistance
- strong horizontal resistance
Comment:
Price before last halving (25th august 2015)
Comment:
LTC/BTC price against 0.618 fib and strong resistance
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
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