Litecoin Analysis – The blood bath continues


by Seth Parker on 14 August 2018

Another big loser today is the Litecoin, which was previously mentioned by us on 28 June, when the price was around 79 USD and we were waiting for a bearish turn from pennant formation:

"According to the laws on price action, we should see a break in the bottom line and further decline and this is our short-term vision on this instrument. [19659005] plot of litecoin “/>

It is interesting to note that the banner did not stop as a pennant, but the LTC continued the lateral tendency and eventually created a flag (red lines) .The flag ended with a bearish breakout that was expected here.The decline was also supported by the rebound from the long-term downtrend (blue) trend.After what happened, almost every day on the LTC were negative.

L & # 39 ;or for the current downswing is around 38 USD and the chances that we will get there are quite high. These are the lows of July and September 2017 and we should get there relatively easily.

Source link