LTC/USDT – 1H – SELLMoreover a ‘Double bottom retreat down’ chart formation is detected. The chart picture shows ‘Double bottom retreat down’. which is a bearish signal. The currency pair is likely to go down.
The currency pair Litecoin/Tether (LTC/USDT) jumps from the ascending trendline down.
A descending movement downwards to the next support line at 68.64 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 70.12 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candle pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 75.9 |
| 2nd High | 71.73 |
| Next High | 70.12 |
| Current Price | 70.030000000 |
| Next Low | 68.64 |
| 2nd Low | 67.75 |
| 3rd Low | 66.98 |
70.12 – 68.98 – 69.2 – 68.64 – 67.75 – 66.98 —
69.790000000 – 70.180000000 —
50.565763583493 – 59.504587024787 —
– —
70.12000 – 1769475600
Trading Signals: CRYPTO – LTC – LTC/USDT – USDT – Bearish Engulfing – Double bottom retreat down – –