Litecoin is one of the main alts who, lately, just can't hold up with the other big coins. The continued bleeding has provided us with a bearish triangle trading pattern.
As seen on the chart, the price is slightly reversing from the $125 area, since the bottom support of the triangle is usually quite strong. I'd expect another bullish bump towards the $135 area before the final plunge downward. Wait for the final bump and bearish confirmation to enter your trade.
I've marked two support areas to place your targets, S1 and S2. Both are around recent swing lows.
Happy trading!
As seen on the chart, the price is slightly reversing from the $125 area, since the bottom support of the triangle is usually quite strong. I'd expect another bullish bump towards the $135 area before the final plunge downward. Wait for the final bump and bearish confirmation to enter your trade.
I've marked two support areas to place your targets, S1 and S2. Both are around recent swing lows.
Happy trading!
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