Position: Bearish
We were stopped out of our last trade for profit. Right now we are sitting on this larger Trendline and it looks like it's starting to break through to confirm the move to the downside. It will probably chop it's way down past this 142-138 area as we have a trendline and support point. We do have MACD in favor of this, but RSI is starting to hit a low. If it break these 140 area lows. Look for a target 110-120 area for a bounce.
For an upside break, we need this this $155 level broken, which could coincide with breaking the trend line. Next level on the upside is 175 if that happens.
Happy Trading
-Sherem
We were stopped out of our last trade for profit. Right now we are sitting on this larger Trendline and it looks like it's starting to break through to confirm the move to the downside. It will probably chop it's way down past this 142-138 area as we have a trendline and support point. We do have MACD in favor of this, but RSI is starting to hit a low. If it break these 140 area lows. Look for a target 110-120 area for a bounce.
For an upside break, we need this this $155 level broken, which could coincide with breaking the trend line. Next level on the upside is 175 if that happens.
Happy Trading
-Sherem
Note
LTC is approaching the buy zone at this low point here. I would only go in very light at this point if at all, with litepay gone it really has put extreme pressure on ltc to the downside.BTC is the bus driver and if it breaks 7.5k, it will drive ltc down to $100 area at least.
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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.