LTC/USDT – 1H – SELL

The combination Litecoin/Tether (LTC/USDT) goes from the ascending trendline downwards

A bearish descent down to the next support line at 98.670000000 is considered certain.

Caution: A possible counter-trend in the direction of resistance at 106.510000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 98.67 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 106.510000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Last Engulfing Bottom:’ candle pattern is found. The candles show ‘Last Engulfing Bottom:’. this is a bearish 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 ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

Download LTC/USDT Signal Image

Trading Signals: CRYPTO – LTC – LTC/USDT – USDT – Last Engulfing Bottom: