LITECOIN is at 67 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.

The retracement level of 61.8% is in confluence with the resistance level. This should act as a catalyst for the drop down.

EMA 50 has turned bullish but we still have the bearish structure intact with the market structure being bearish until the daily level is breached.

RSI is at 61. This means, the market needs to dwell into the bullish region. In this region, we need to form a bearish divergence. This bearish divergence aligned with the technical factors will push Stellar towards the bearish side.

Litecoin shorts after the loss

Jan 07 2023

Stop Loss -2.76%

Holding time 1hr

76.364

Entry price

78.474

Stop loss price