The market has started a slight correction, a lot of altcoins and BTC has made some breakouts downwards.
I would like to point out some areas from Litecoin chart, firstly a possible short-term(!!) bounce area around the $90. It has worked several times as a resistance and as a support level. Currently, it should start to work as a support and this area has offered a lot of action and bounces so, let's hope that the area can still deliver some action to us.
A really bearish confirmation area is slightly under the $85. This red line is the last confirmed HL and if the Daily candle gets a close below of it then the mid-term market structure has changed into the bearish and it will give a push for further movements downwards.
Feel free to support my effort by hitting the "LIKE", it is my only fee from You and it means a lot to me!
Best regards!
I would like to point out some areas from Litecoin chart, firstly a possible short-term(!!) bounce area around the $90. It has worked several times as a resistance and as a support level. Currently, it should start to work as a support and this area has offered a lot of action and bounces so, let's hope that the area can still deliver some action to us.
A really bearish confirmation area is slightly under the $85. This red line is the last confirmed HL and if the Daily candle gets a close below of it then the mid-term market structure has changed into the bearish and it will give a push for further movements downwards.
Feel free to support my effort by hitting the "LIKE", it is my only fee from You and it means a lot to me!
Best regards!
