LTC/USDT – 1H – SELLThe combination Litecoin/Tether (LTC/USDT) goes from the ascending trendline downwards
A bearish descent down to the next support at 85.160000000 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 88.280000000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 94.170000000 |
| 2nd High | 92.290000000 |
| Next High | 88.280000000 |
| Current Price | 94.840000000 |
| Next Low | 85.160000000 |
| 2nd Low | 84.750000000 |
| 3rd Low | 83.550000000 |
88.280000000 – 92.290000000 – 88.490000000 – 85.160000000 – 85.650000000 – 84.750000000
Trading Signals: FOREX – LTC – LTC/USDT – USDT – Bearish Engulfing –