Litecoin Trend Decision Point
Neutral here. Macro picture is bearish, double top with neckline not yet tested, we’ve also formed a bear flag on the daily chart - leaning me towards lower. At minimum double top neckline test. (Check my other post for macro chart view)
However on the LTF during FOMC we bounced from the range again, creating a double bottom & today retraced into the fibs of the double bottom with some reaction. So I’m patiently waiting to see how the range breaks for further moves, we’re quite literally in the middle. Halving is nearing as well which should be bullish into the event, conflicting. However I’m keeping my buy orders lower for now.
However on the LTF during FOMC we bounced from the range again, creating a double bottom & today retraced into the fibs of the double bottom with some reaction. So I’m patiently waiting to see how the range breaks for further moves, we’re quite literally in the middle. Halving is nearing as well which should be bullish into the event, conflicting. However I’m keeping my buy orders lower for now.
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