Bad News for Litecoin - LTC/BTC Analysis

Here we can see a downtrend preceding a rising wedge, which is a bear signal. Also volumes are decreasing (at least on binance) which means that less and less people are fighting for this support. I expect price signal to drop the same height as the wedge.

In 2H, if we look at the 50 SMA red line, we can see it can be used as support. We can see it's starting to flatten out and reverse. If price went to cross under this line, that would be a nice opportunity for a short trade. Place your protection stop on top of the line.

Written by Cyato - 2019-01-04

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