Update at LTC USDT (Bull Flag Formation)
After the bull flag there is a reversal trend. We already overcame the next fibonacci level and bounced at it (around the $169 area) giving the first indication that the orange fibonacci level became an important resistance zone .
The RSI is high but yet not oversold and the horizontal black lines show a heavy resistance level where I expect a bounce. At that level I expect the RSI to be oversold so I am setting up my automatic sell at the first orange circle, at $188. After reaching the resistance zone I expect a bounce down and a formation of a bull flag , therefore buying again at the green circle.
There is a bull flag formation in the 4H chart. We are close to reaching our first sell target at the resistance level at the $188-190 range. Looking for a healthy bounce down after reaching those targets.
The RSI is high but yet not oversold and the horizontal black lines show a heavy resistance level where I expect a bounce. At that level I expect the RSI to be oversold so I am setting up my automatic sell at the first orange circle, at $188. After reaching the resistance zone I expect a bounce down and a formation of a bull flag , therefore buying again at the green circle.
There is a bull flag formation in the 4H chart. We are close to reaching our first sell target at the resistance level at the $188-190 range. Looking for a healthy bounce down after reaching those targets.
