LTC/USDT – 30M – SELLThe currency pair Litecoin/Tether (LTC/USDT) jumps from the bullish trendline down.
A bearish movement downwards to the next support level at 98.670000000 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 106.510000000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 98.67 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 106.510000000 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Two Crows’ candle chart pattern is found. The chart forms ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 110.670000000 |
| 2nd High | 110.350000000 |
| Next High | 106.510000000 |
| Current Price | 100.840000000 |
| Next Low | 98.670000000 |
| 2nd Low | 97.540000000 |
| 3rd Low | 96.620000000 |