LITECOIN is at 65 right now which is the resistance level. Market may print a bearish candlestick towards the bearish side and continue moving down for another bearish leg. Market has the potential to drop to the 61 level. This setup has the stop at the top of the resistance.

There is an another ascending trendline which is formed is pending the breakout sell. Once broken down and validated with the candles, we can further take the bearish beat.

There is no retracement indication on this setup. 

EMA 50 is bearish and a retest is due at the resistance level. If that happens, we will have another confirmation for the bearish side.

RSI is at 45. This needs to be neutralized at the 50 level. Once neutralized along with other technical factors, the market make a good setup for the shorts.

LTC at 65 for shorts

Dec 26 2022