LTC This could be the start of a major pump
or a bull trap
Bullish signals, double bottom, high volume, end of an ABC correction, break out of a falling wedge
Bearish signs, didn't break out of the falling channel, was rejected by top resistance, and the 4hrs 200ema which seems to be acting as dynamic resistance for a while.
To confirm a bull move, price action must break above the 4hrs 200ema and bounce on the retest (green curve)
If this is a bull trap then price will likely follow the red curve, however at the moment today's dump looks like a major bear trap followed by a short squeeze.
Bullish signals, double bottom, high volume, end of an ABC correction, break out of a falling wedge
Bearish signs, didn't break out of the falling channel, was rejected by top resistance, and the 4hrs 200ema which seems to be acting as dynamic resistance for a while.
To confirm a bull move, price action must break above the 4hrs 200ema and bounce on the retest (green curve)
If this is a bull trap then price will likely follow the red curve, however at the moment today's dump looks like a major bear trap followed by a short squeeze.
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