The currency pair Litecoin/Tether (LTC/USDT) moves from the bullish trendline down.
A descent down to the next support at 82.5 will persist.
Caution: A possible counter-trend in the direction of resistance at 84.17 could occur.
Consider stop-loss settings accordingly.
And also a ‘Last Engulfing Bottom:’ candle chart pattern is found. The candles show ‘Last Engulfing Bottom:’. which 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 Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 84.54 |
| 2nd High | 84.39 |
| Next High | 84.17 |
| Current Price | 84.180000000 |
| Next Low | 82.5 |
| 2nd Low | 80.82 |
| 3rd Low | 80.32 |
84.17 – 84.39 – 83.9 – 82.5 – 80.82 – 80.32 — 62.615980742175 – 56.169786127692 — 92.664809656453 – 83.533494680122 – 69.262421926927 – 82.032157734245
Trading Signals: CRYPTO – LTC – LTC/USDT – USDT – Last Engulfing Bottom: – Rising Wedge Chart Pattern – –