https://www.tradingview.com/chart/kAuX8OBQ/
Litecoin got hyped by the rumor of Litepay (1st big bull flag), unfortunately Visa not complying with the release of its card has started a slow and steady decline in volume (2 small bull flag pointing down) with consequent downtrend and formation of H&S. The H&S neck at $200 support has been broken with a new low and weak support at $194 (it will be retested soon) and rebound to $202. As I am writing this short term TA, LTC has broken down again the frail $200 support and ranges at $195. There is a correction going on for the next few days with some support at $190(fine red line)The RSI is at 30 as for now. This support will be tested and in case of failure $180(dotted red line) should offer a better buying opportunity. The bears by now will attempt to shatter the $180 for a chance to buy at a cheaper price. The $170(thick red line) will offer strong support and an even better buying zone. This is not a financial advise only my personal opinion not intended to be used for trading purpose. Be wise!
Litecoin got hyped by the rumor of Litepay (1st big bull flag), unfortunately Visa not complying with the release of its card has started a slow and steady decline in volume (2 small bull flag pointing down) with consequent downtrend and formation of H&S. The H&S neck at $200 support has been broken with a new low and weak support at $194 (it will be retested soon) and rebound to $202. As I am writing this short term TA, LTC has broken down again the frail $200 support and ranges at $195. There is a correction going on for the next few days with some support at $190(fine red line)The RSI is at 30 as for now. This support will be tested and in case of failure $180(dotted red line) should offer a better buying opportunity. The bears by now will attempt to shatter the $180 for a chance to buy at a cheaper price. The $170(thick red line) will offer strong support and an even better buying zone. This is not a financial advise only my personal opinion not intended to be used for trading purpose. Be wise!