LTC is losing Momentum
Updated
the LTC price has remained stable during the past 24 hours. However, at the time of writing, LTC seems to be in bad shape after a massive drop down since late week
Will the altcoin recover and push above $170 yesterday , I am thinking it will drop deeply caused by :
1- Head and shoulder formation on Weekly chart
2- Negative sentiment remain bearish within the last 2 weeks especially when price reached the the highest price for LTC @ 242 its noticeable the sellers still controlling the market through volume delta chart analysis
ibb.co/XWDVPqK
3- Bearish Ingulfing for last week candle suggested selling from 180 as long as the price below this level.
4- Bitcoin remain bearish as long as 49600 still above the price and this will influence LTC momentum.
I will be glad getting any comments regarding this :)
Will the altcoin recover and push above $170 yesterday , I am thinking it will drop deeply caused by :
1- Head and shoulder formation on Weekly chart
2- Negative sentiment remain bearish within the last 2 weeks especially when price reached the the highest price for LTC @ 242 its noticeable the sellers still controlling the market through volume delta chart analysis
ibb.co/XWDVPqK
3- Bearish Ingulfing for last week candle suggested selling from 180 as long as the price below this level.
4- Bitcoin remain bearish as long as 49600 still above the price and this will influence LTC momentum.
I will be glad getting any comments regarding this :)
Note
The confirmation : we need a weekly close candle below 152Note
closing below 152 failed , its bullish now
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