LTC/USDT – 1H – SELLThe currency pair Litecoin/Tether (LTC/USDT) jumps from the bullish trendline down.
A descent downwards to the next support level at 89.530000000 will persist.
Caution: A possible change in the direction of the resistance zone at 93.650000000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 102.940000000 |
| 2nd High | 98.950000000 |
| Next High | 93.650000000 |
| Current Price | 91.160000000 |
| Next Low | 89.530000000 |
| 2nd Low | 86.710000000 |
| 3rd Low | 86.590000000 |
93.650000000 – 88.460000000 – 89.310000000 – 89.530000000 – 86.710000000 – 86.590000000
Trading Signals: FOREX – LTC – LTC/USDT – USDT – Bearish Engulfing