LTCUSD Potential for Bearish Continuation | 27th July 2022

On the H4, with price breaking the ascending channel and there is a descending line of RSI, we have a bearish bias that price might drop from our sell entry at 54.64, which is in line with 23.6% fibonacci retracement to the take profit at 51.07, which is in line with pullback support. If the price breaks the 51.07, we could expect it to drop to our next support at 47.26, which is in line with pullback support. Alternatively, price may head for stop loss at 59.67, which is in line with the multiple swing highs.

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