LTO - Possible Double Bottom Formation
After some terrible moves from LTO, I'm seeing some weakness in the bears.
Currently we've been bleeding here non-stop since the day it was launched on Binance, but there are some good indications of a reversal.
Usually with these small assets is you can't really trust technical analysis as the market cap is too low and the price can be manipulated by whales, but I do see a potential bounce from the W shape double bottom that is seen in the 15min timeframe.
Now, this would only be the case if the price breaks previous resistance and starts to create higher highs and lower lows in the 5min timeframe.
Still a risky asset for the time being as the price is being determined, but if you see some bullish volume/action, it maybe a good time to get in.
Currently we've been bleeding here non-stop since the day it was launched on Binance, but there are some good indications of a reversal.
Usually with these small assets is you can't really trust technical analysis as the market cap is too low and the price can be manipulated by whales, but I do see a potential bounce from the W shape double bottom that is seen in the 15min timeframe.
Now, this would only be the case if the price breaks previous resistance and starts to create higher highs and lower lows in the 5min timeframe.
Still a risky asset for the time being as the price is being determined, but if you see some bullish volume/action, it maybe a good time to get in.
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