Litecoin saw a bullish engulfing candle on the 4 hour and a bullish hammer on the daily. Bulls need to set a 4 higher low and higher high to see continuation and confirm daily short term bounce. Looking at an equilibrium, or an intimidate 4 hour higher low being. Resistance and support levels are marked, looking for a 4 hour higher low relative to support $73.48...
Bitcoin bulls pump on 1 hour with nearly a $500 move attempting to force shorts to cover. I still do not trust the bulls yet and am waiting for more clear support lines to show themselves as well as waiting for the close of the daily candle. There will always be another trade.
SHORT TERM TRADES. A BREAK DOWN OF THE ASCENDING TRIANGLE SHOWS THE BEARS ARE IN CONTROL. I AM EXPECTING PRICE DROPS TO THE FOLLOWING LEVELS WITH BOUNCES ALONG EACH ONE. MEASURED TARGETS FOR THE FIRST TWO PRICE BOUNCE LEVELS FOUND BY MEASURING APEX'S INSIDE TRIANGLE AND IF BEARS REMAIN IN CONTROL FINAL PRICE DROP IS MEASURED FROM THE POLE OF THE INITIAL PRICE...
Not financial advice I am not an expert at TA just my first publish of some trends I noticed on the 4hr chart. Anything can happen TA is about probability not guarantee. Let me know what you think! Happy trading !!!
