LTC/USDT – 1H – SELL

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

A bearish trend down to the next support at 97.360000000 will continue.

Caution: A possible trend reversal in the direction of the resistance zone at 103.050000000 could occur.
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 will continue. Current target is 96.83 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 103.050000000 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Last Engulfing Top’ candle pattern is found. The chart forms ‘Last Engulfing Top’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).

Download LTC/USDT Signal Image

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