LTCUSD 4 Hour Time Frame.Technically it didn't dip but its looking bearish with multiple trend lines pointing downwards. Los Angeles 1:41 AM. Price action is below the cloud which is a signal for a bearish trend and RSI is below 50 showing weakness.
What to look for:
If LTC decides to continue the triangle breakout its going to meet resistance around $58 dollars. Its probably better to enter LTC at discount. If price action breaks 100 fib level it should go towards 1.618. Though I think there's a psychological support at $50 so not sure if LTC is going to drop as low as $45.
What to look for:
- RSI must stay above 50+ for an uptrend.
- Chikou Span failed to stay above Kijun Sen.
- Price action is below the kumo cloud which is bearish.
- Small breakout in the triangle is under lots of resistance.
If LTC decides to continue the triangle breakout its going to meet resistance around $58 dollars. Its probably better to enter LTC at discount. If price action breaks 100 fib level it should go towards 1.618. Though I think there's a psychological support at $50 so not sure if LTC is going to drop as low as $45.
Note
Note
New update on LTC.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.