LTC continues to set hourly lower highs and lower lows as we approach oversold conditions.
The daily chart is still likely to easily form a higher low, and see a bounce attempt back towards the recent highs, which I feel will fail and set a lower high.
Watching for the potential of 1 more leg down on BTC which would drop LTC into the upper $150s.
Keep an eye out in the next 24 hours for a higher low on the daily to form, and the hourly trend to shift back to bullish for a temporary bounce.
LTC has had nice volatility for gains the last few days, so it and ETH have been my plays on oversold bounce flips.
Bulls need to scale back trading in consolidation mode.
The daily chart is still likely to easily form a higher low, and see a bounce attempt back towards the recent highs, which I feel will fail and set a lower high.
Watching for the potential of 1 more leg down on BTC which would drop LTC into the upper $150s.
Keep an eye out in the next 24 hours for a higher low on the daily to form, and the hourly trend to shift back to bullish for a temporary bounce.
LTC has had nice volatility for gains the last few days, so it and ETH have been my plays on oversold bounce flips.
Bulls need to scale back trading in consolidation mode.
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