Short LTC

We have a lot of technical indicators to get short here at the right time.

Starting from the Daily chart we have an indecision candle or doji outside the bollinger bands. We also have nice RSI divergence and after a parabolic rise it seems a pullback is likely.

The 4hr chart shows a bearish engulfing candle showing the bears are coming to town and the bulls are taking profits.

The 1hr chart shows a clear cut break in trend and market structure is changing. We now have Higher lows and Lower lows on the pivots. The 20 ma on the 1hr is also down.

And now we are forming a bear flag on the 1hr.

What we are looking for as timing to get short is a bearish engulfing on the one hr off a Fibonacci extension. This will give us the highest probability of making a good trade with perfect timing.

Remember anything can happen (Use a stop loss) but when we have the probability stacked in our favour and we are patient we get paid.

As Litecoin has been leading the charge across the crypto market i think we could enter a corrective phase in all coins. Bulls beware

Daily chart