LTC/USDT – 30M – SELLThe combination Litecoin/Tether (LTC/USDT) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 99.500000000 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 100.960000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 98.67 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 100.960000000 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Two Crows’ candle chart pattern is found. The chart forms ‘Two Crows’. which is a negative 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 | 101.800000000 |
| 2nd High | 101.750000000 |
| Next High | 100.960000000 |
| Current Price | 99.630000000 |
| Next Low | 99.500000000 |
| 2nd Low | 98.670000000 |
| 3rd Low | 97.540000000 |