Hello Traders,
After news that payments processor Litepay has ceased operations, Litecoin traded roughly 10% lower.
Looking at the 4 hour chart, we see that Litecoin just crossed the major support level $137. Huge head and shoulders pattern start to surface, which is a very bearish signal.
If Litecoin can't go back to $137 in next few hours or days, I would expect it to drop down to $110 range.
Happy Trading!
After news that payments processor Litepay has ceased operations, Litecoin traded roughly 10% lower.
Looking at the 4 hour chart, we see that Litecoin just crossed the major support level $137. Huge head and shoulders pattern start to surface, which is a very bearish signal.
If Litecoin can't go back to $137 in next few hours or days, I would expect it to drop down to $110 range.
Happy Trading!
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Reaching to my target zone. If you are long term holder this might be a good chance to hop in!