LTCBTC -2.40% is currently bouncing around a major line of support with a triangle pattern formed. In the midst of this, it appears that it may be forming a medium-term head and shoulder pattern. If it breaks down from this support line, it certainly is.
You may have noticed the drop in volume , this also has be wondering if the price will break down to the negative because of the lack of volume .
My buy order for 0.0159 just went through last night. I believe that a trader at Binance ran the stops/limits and made it all the way down to my order. Something weird is going on.
I'm about 50/50 at this point, and my suspicions for a negative breakout are growing, but I am reluctant to sell my LTC for BTC -5.50% . I have a sell order set at 0.030.
I don't tend to use technical analysis for everything, but it has its uses. With cryptocurrencies (especially when trading pairs) you can't go off of much but the charts.
Disclaimer: I am not a financial advisor. The articles that I write are for educational purposes only. Do your own research and hold yourself accountable for the investments that you choose to make.
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