I really want Litecoin to continue its upward move, but...
On the 4H chart, we have a bullish shooting start with high volume in a supply area, that makes a lower high.
On the 1H chart, we can see a potential head & shoulder formation, another bullish shooting star on higher-than-average-volume in a supply area, followed by two bearish candles that seem to confirm the reversal. There is also a bearish divergence on the RSI.
The 15m chart seems to confirm the reversal.
This said, we will have to wait and see what the candle next to the shooting star on the 4H chart will do to confirm the potential bearish trend or not for the next few days. If price goes down, we should find support at 180$, 170$, or 160-165$.
Still learning here, so any constructive feedback to improve my analysis and positive vibes are welcome.
Thank you and Happy trading!
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Needless to say, this is not financial advice!
On the 4H chart, we have a bullish shooting start with high volume in a supply area, that makes a lower high.
On the 1H chart, we can see a potential head & shoulder formation, another bullish shooting star on higher-than-average-volume in a supply area, followed by two bearish candles that seem to confirm the reversal. There is also a bearish divergence on the RSI.
The 15m chart seems to confirm the reversal.
This said, we will have to wait and see what the candle next to the shooting star on the 4H chart will do to confirm the potential bearish trend or not for the next few days. If price goes down, we should find support at 180$, 170$, or 160-165$.
Still learning here, so any constructive feedback to improve my analysis and positive vibes are welcome.
Thank you and Happy trading!
------------------------------------------------------
Needless to say, this is not financial advice!
