LTC looks bearish
LTC is moving inside the marked ascending channel - but formed a H&S on the 4 hour. A dump is very likely here, having been rejected hard by the upper trendline resistance zone and after an ascending vedge has broken downwards yesterday.
We could see a first leg to 41 - then a short bounce - followed by another leg to about 39.
A breakout to the downside when testing the lower trendline seems likely this time, which would send LTC further downwards - propably to new lows since the end of the bullmarket.
We could see a first leg to 41 - then a short bounce - followed by another leg to about 39.
A breakout to the downside when testing the lower trendline seems likely this time, which would send LTC further downwards - propably to new lows since the end of the bullmarket.
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