Hello dear LTC traders! let's have a look at our previous analysis:
LTC has clearly not seen any follow-through with the potential inverse H&S. Even the tightening Equilibrium scenario has fallen much more to a bearish kind of scenario, where we have reached the previous bottom again. For a healthy 4H Equilibrium we had wanted the bulls to keep the $120 as bottom, which they definitely failed to do so.
What now?
We could Bottom-fish the support zone of $112-115, betting on reaching at least the targets of $120-121, and $127, giving 4% and 9% profit respectively, vs. the bottom breaching risk of 3-4%: A break underneath $110 would activate further bearish potential, which would highly depend on grandpa BTC's price action.
In the direct correlation LTC/BTC we could successfully reclaim the previously lost S&R zone of 0.011 BTC, but we have quite a few indecision Doji's and Spinning Top candles going on currently, which could reverse the trend. It's gonna be crucial to hold 0.011 as support.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
LTC has clearly not seen any follow-through with the potential inverse H&S. Even the tightening Equilibrium scenario has fallen much more to a bearish kind of scenario, where we have reached the previous bottom again. For a healthy 4H Equilibrium we had wanted the bulls to keep the $120 as bottom, which they definitely failed to do so.
What now?
We could Bottom-fish the support zone of $112-115, betting on reaching at least the targets of $120-121, and $127, giving 4% and 9% profit respectively, vs. the bottom breaching risk of 3-4%: A break underneath $110 would activate further bearish potential, which would highly depend on grandpa BTC's price action.
In the direct correlation LTC/BTC we could successfully reclaim the previously lost S&R zone of 0.011 BTC, but we have quite a few indecision Doji's and Spinning Top candles going on currently, which could reverse the trend. It's gonna be crucial to hold 0.011 as support.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
