Short

LTCUSD Short idea, H&S pattern. Daily trendline possible broke

Updated

BTCE:LTCUSD
I believe LTC have a bright future, but right now hype about SegWit is over.
Big players are quiting.
Breaking Daily trendline and $25 treshold will be complited H&S pattern, which means minimal $13 dump, I expect $12.7, may be deeper

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Bigger picture

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Weekly candle closed in red, and it's look like "Spinning top" looks dangerous for LTC

Trade active

Sad for litecoin, we are braked the neckline of H&Sand pattern is accomplished, and now seems it should go deeprer, i excpect retest of neckline, and then broking of daily trendline

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Huge volume on breaking support, means, that now we have strong resistanse at that point

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I expect bounce somewhere near to 0.382 fib, then retest of neckline. But be careful, it's dangerous to go long on bear market, better open new short on peaks.

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Testing neckline right now.

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Good oportunities to add some shorts. You cat set stops above necline

Trade closed: stop reached

Stop was reached after breaking neckline. Looks like LTC have some more fuel.

exceLqa

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