LTCUSDT → False breakout of resistance...

kelmarin

LTCUSDT is forming a distribution pattern after local consolidation. The price is testing the resistance zone and forming a false breakout, but there is a but. The cryptocurrency market is in correction...



Bitcoin looks quite weak at the moment, forming a correction and local consolidation before a possible continuation of the decline to 117-116K. The local pump in LTC may end in an aggressive decline if the price closes below the key resistance level.
Manipulation (false breakout) relative to resistance. Against the backdrop of a weak market, LTC is forming a rally, which may be a sign of a local trap before a drop to the break-even or liquidity zone (124.1 - 115.3).

Resistance levels: 132.0, 134.2
Support levels: 124.14, 115.36

A false breakout of resistance, while the entire altcoin market is declining, looks like a hunt for liquidity before catching up with the main market. Accordingly, confirmation of a false breakout of the resistance zone could trigger a drop in LTC.

Sincerely, R. Linda!

kelmarin

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