BerlinTrader591
Short

Litecoin BEAR FLAG, target 150

BITTREX:LTCUSDT   Litecoin / Tether
Litecoin looks like it's about to fall off a cliff!

Price has consolidated in a descending triangle pattern since hitting all time highs in the beginning of December.

This pattern should have broken out in the direction of the trend, up.

But when a bullish pattern breaks down, then that is extremely bearish , because not even a bullish pattern was able to hold up the price.

Now we are consolidating under the support level that was the bottom support of the consolidation triangle.

We see a BEAR FLAG trying to hold on to that 200 moving average.

If we break below that moving average and the bear flag , and also crash below that psychological level of 200, then we should see much lower prices down to the next support level of 150


THE TRADE:
Short under 205
Price target around 150
Take profits along the way.


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