LITECOIN NEARING END OF MID-TERM BEAR TREND?!?!
Updated
After a 31% Drop, looking for key structure changes in order to take optimal LONG positions!
IDEAL bull entries would be change in market structure, breaking of 4HR downtrend, retesting downtrend as support then consistent HH, HL's forming
Short term play is also possible looking for short entries at the top of the downtrends, remember trend is your friend until it breaks.
If long play is confirmed TP's on way up by looking left at previous structure would be 5945, 6000, 6150 & final TP's within daily order block between 6275-6400
Will re-assess with more analysis once market structure changes & price starts getting close to order block,
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IDEAL bull entries would be change in market structure, breaking of 4HR downtrend, retesting downtrend as support then consistent HH, HL's forming
Short term play is also possible looking for short entries at the top of the downtrends, remember trend is your friend until it breaks.
If long play is confirmed TP's on way up by looking left at previous structure would be 5945, 6000, 6150 & final TP's within daily order block between 6275-6400
Will re-assess with more analysis once market structure changes & price starts getting close to order block,
LEARN TA! At MBA we teach technical analysis from the basics up, learn to trade with our veteran traders with a community of 200+ other traders;
Link in profile description!
Order cancelled
LTC looks to of broken Major support at 5500 level, LONG plays are out of the picture now.Will be looking to take SHORTS from 5500, if resistance proves strong. Will update with new chart once more information builds!
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