Litecoin caught in a range and a possible double top

14 May 2019

We can see LTC being inside of a range between 93 and 84. This double top looks legit, but won't be confirmed until the 84 breaks. We can see a small bear flag on the right as well which can drop back to 86.5ish. Now the market can still turn this into like a triangle, but then the thick black trend line should hold. If that one breaks, the double top become more likely. If the 84ish breaks, it could drop to around 76. The previous low around 70, seems to be a key support level for LTC

If we see a solid volume break of 92/94, we should be able to reach the resistance on the left, around 110/120.

For now i would watch the small bear flag, will probably be a good indication for the short term.



Previous analysis:

14 May 2019

Yorum

Bear flag target reached, black support line bouncing it back up as well now. Looks like another channel broke as well now, but i don't see any volume with that small breakout though.

The levels i mentioned above still count. Be careful with the low volume. 89ish is a short term support now