LTCUSDT LITECOIN Technical Analysis
-Support seems to be holding
but what I notice is that price is having to
go deeper into the support and make smaller
moves from the support which is telling me that
the buyers are not able to really step in.
-I am bullish and I like buys inside the support area
but until we start breaking the previous
LL/HH pivot point area, the profit margin is
small.
3 different scenarios I could see happening here:
1) price breaks the downward trend line and
respects the support and pushes it higher.
2) price break support and now becomes resistance
and which a lot of traders will be looking to
sell at resistance.
3) May see a Stop hunt with price shoot through demand/support and
which every trader will be bearish. Only to see
buyers step in and take it a lot higher.
but what I notice is that price is having to
go deeper into the support and make smaller
moves from the support which is telling me that
the buyers are not able to really step in.
-I am bullish and I like buys inside the support area
but until we start breaking the previous
LL/HH pivot point area, the profit margin is
small.
3 different scenarios I could see happening here:
1) price breaks the downward trend line and
respects the support and pushes it higher.
2) price break support and now becomes resistance
and which a lot of traders will be looking to
sell at resistance.
3) May see a Stop hunt with price shoot through demand/support and
which every trader will be bearish. Only to see
buyers step in and take it a lot higher.
Penafian
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