LTC/USDT – 1H – SELLThe pair Litecoin/Tether (LTC/USDT) jumps from the descending trendline down.
A continuation of the downward movement down to the next support at 91.200000000 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 97.990000000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.
Additionally a ‘Last Engulfing Bottom:’ candlestick pattern is discovered. The chart forms ‘Last Engulfing Bottom:’. which is a bearish 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 ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 98.950000000 |
| 2nd High | 98.320000000 |
| Next High | 97.990000000 |
| Current Price | 96.860000000 |
| Next Low | 91.200000000 |
| 2nd Low | 90.750000000 |
| 3rd Low | 85.160000000 |
97.990000000 – 98.320000000 – 88.280000000 – 91.200000000 – 93.870000000 – 90.750000000
Trading Signals: FOREX – LTC – LTC/USDT – USDT – Last Engulfing Bottom: – Triple bottom chart pattern