Hi everyone,
Looking at the current market situation, I believe that we need some consolidation. LTC has been giving us great early signals of what will happen next. It seems to pump first and then the rest of the Alts and BTC follow. With that said, LTC is at the top of a upwards channel (bearish channel) and it is currently rejecting the daily 200 EMA, which is to me the most important EMA at the most important timeframe. I think we can see a drop to at least $40-42 range. BTC is also looking like it needs some consolidation after a strong reject of $4000 in Bitmex.
Please feel to share your opinion and comment below
Have a great day!
Looking at the current market situation, I believe that we need some consolidation. LTC has been giving us great early signals of what will happen next. It seems to pump first and then the rest of the Alts and BTC follow. With that said, LTC is at the top of a upwards channel (bearish channel) and it is currently rejecting the daily 200 EMA, which is to me the most important EMA at the most important timeframe. I think we can see a drop to at least $40-42 range. BTC is also looking like it needs some consolidation after a strong reject of $4000 in Bitmex.
Please feel to share your opinion and comment below
Have a great day!
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A break of $52 will invalidate this plan
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Update:
This was a tricky one because it did break $52 which I didnt expect but it quickly pulled back. Yet the head and shoulder is still very much alive and about to break down!
This was a tricky one because it did break $52 which I didnt expect but it quickly pulled back. Yet the head and shoulder is still very much alive and about to break down!