Hello traders,
Here we see the 4 hour chart of Litecoin which is moving in a perfect ascending medium trend channel.
The price has rebounded from the bottom of the channel but now we are encountering strong resistance. We have the top of February 15. This is an important resistance line and key level.
We also see the descending trend line / wedge which has not yet been broken but the RSI has already which is a positive sign.
I am going short with a very tight stop at 250 USD. Target bottom of the channel. If the stoploss is hit then I expect a further rise. The stop is so tight that eventually my loss is minimal
This is of course my opinion and not an advice.