LTC had created a nice W formation and has now formed an inverted bear flag at the end of it.
This could be a good potential short setup.
We want to watch for first a break of the 50 EMA and then a break of lower trend line with confirmation.
If we break the lower trend line we will likely head back down to support around $116 then $109 if that doesn't hold
RSI is on a downtrend and currently hovering around 55
This is not financial advise. Just sharing a potential scenario.
This could be a good potential short setup.
We want to watch for first a break of the 50 EMA and then a break of lower trend line with confirmation.
If we break the lower trend line we will likely head back down to support around $116 then $109 if that doesn't hold
RSI is on a downtrend and currently hovering around 55
This is not financial advise. Just sharing a potential scenario.