LITECOIN Pullback Could Potentially Be Flag Or Typical Price ActionsteemCreated with Sketch.

in #litecoin5 years ago

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You can see the volume falling and pulling back after being overbought a large amount (over 90 on some charts). As expected, there's a pullback in price action.

Is this a sign of weakness leading to our typical sideways pattern and pullback, or will we see bulls find support and strength to push prices up from here.

Bitcoin got stuck at the $3,640 resistance which is a significant level. We saw Litecoin driving the markets for a while, but what if Bitcoin rubs off like typically?

At this point, I really think the two options are a much longer consolidation, to bull continuation and or slight pullback looking like a flag and then a major bear break to the downside.

Right now I'm still in all cash. I think there's too much downside risk still right now to be in. Hopefully I'll catch the breakout if there is one, but right now, keeping my funds safe from all of that risk.

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