Litecoin Gets Rejected At The Top of My Bear Flag (LTC)

Hi friends! Welcome to this update analysis on Litecoin! Let's get right to it! Looking at the four hour chart, you can see that LTC was rejected at the top of the bear flag, and now it's heading lower. Just below the current price action, is the 20 EMA (in blue) followed by the 50 EMA (in orange.) These levels should act as initial support, as we move back into the middle of the flag. If those two averages are lost, look for LTC to return to the bottom of the bear flag. On the MACD, you can see that it's rolling over to form a bearish crossover, as the sellers start to step into this overcharged market. Litecoin tried desperately to rally above the bear flag today, but it just didn't happen. Keep an eye on those moving averages. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

-JD-