๐ฅ LTC Downtrend Continuation: Bear Flag Pattern
With BTC on the verge on reversing from a short-lived bullish reversal, LTC will most likely follow BTC downwards.
As seen on the chart, LTC is currently trading in a small upward edging channel in between a larger downtrend. In case this upwards edging channel's support gets broken, we might have completed the bear flag pattern. This pattern-type is often a catalyst for the continuation of the overall trend, which is bearish in this case.
In case the bearish trend from BTC will continue, we might visit the lows of $125 again. Wait for confirmation before entering this trade.
Happy trading!
As seen on the chart, LTC is currently trading in a small upward edging channel in between a larger downtrend. In case this upwards edging channel's support gets broken, we might have completed the bear flag pattern. This pattern-type is often a catalyst for the continuation of the overall trend, which is bearish in this case.
In case the bearish trend from BTC will continue, we might visit the lows of $125 again. Wait for confirmation before entering this trade.
Happy trading!
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