LTC forming potential Adam and Eve reversal formation (1 Day)
As we have watched bitcoin the the charge the last few months, I am expecting to see money flow into some of the larger caps in the coming months. LTC is one I have my eyes on.
It is currently testing long term resistance near 141 USDT which also acts as a neck for a large a potential Adam and Eve formation. This opens up a few possibilities.
Bull - LTC breaks resistance at 141 - possibly retesting that level and establishing it as a support before heading towards 300-350.
Neutral - LTC is rejected at 141 and forms a potential handle ranging back to 93 and strengthening the support at that level. I would look for a breakout of that handle and a retest of 141 again.
Bear - Rejection at 141 is harder than expected and 93 also fails to hold as support. Price action can fall here, or retest 93 as resistance and begin to range again.
(New trader, nothing I post is financial advise - I am just offering you my ideas and opening myself up for criticism!)
It is currently testing long term resistance near 141 USDT which also acts as a neck for a large a potential Adam and Eve formation. This opens up a few possibilities.
Bull - LTC breaks resistance at 141 - possibly retesting that level and establishing it as a support before heading towards 300-350.
Neutral - LTC is rejected at 141 and forms a potential handle ranging back to 93 and strengthening the support at that level. I would look for a breakout of that handle and a retest of 141 again.
Bear - Rejection at 141 is harder than expected and 93 also fails to hold as support. Price action can fall here, or retest 93 as resistance and begin to range again.
(New trader, nothing I post is financial advise - I am just offering you my ideas and opening myself up for criticism!)
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