LTC/USDT – 4H – SELL

The combination Litecoin/Tether (LTC/USDT) moves from the bullish trendline downwards

The bearish trend down to the next support line at 112.510000000 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 123.660000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 117.28268 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 123.660000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

123.660000000 – 123.200000000 – 134.190000000 – 112.510000000 – 112.060000000 – 116.550000000 — 55.366651722977 – 48.220660319672

Trading Signals: CRYPTO – LTC – LTC/USDT – USDT – Bearish Engulfing – – –