LTCUSD : SHORT AND LONG OPPORTUNITIESWhile bears is taking over the market, just analyze the chart to take corrections opportunities during the bearish momentum.
Now we are at the 50% Fib and we may expect a bottom pattern if we want to trade a possible upward move. Check the hour-chart or 4hour-chart to see if entering for a short trade is interesting. Moreover, to be sure, take a look at the BTCUSD chart.
On the long-term, either LTCUSD stops the bearish momentum between 50%-61.8% Fib and we would see the wave 2 of Elliot impulse wave formed, or we would return to higher lows than the one in March-April.
Whatever, with the Squeeze Momentum indicator, you could see that bearish momentum won't be higher than the two previous bearish moves.
I draw three zones that match the Fib retracement levels. That zones are important and are often in which consolidations happen.
Some updates coming if there are some changes.
