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LTC bulls hesitate around 47.2—head-fake trap or a real pullback?
$LTC /USDT - SHORT
Trading plan:
Entry: 47.1 – 47.3
SL: 48.0
TP1: 46.6
TP2: 46.2
TP3: 45.5
Why focus on this structure?
On the 4-hour chart, RSI on the 15-minute timeframe is only 52.53; it’s not overbought. But on the 1D trend, it’s in a ranging/sideways zone, with a bearish bias. The current entry reference is 47.2, with TP1 at 46.6 and a stop-loss at 48.0. Why now? Because price is at the upper end of the range, and short-side confidence at 55% is slightly stronger. If price breaks below the 47.1 support, the probability of a pullback increases.
Discussion:
Will this leg of LTC first reach TP1 at 46.6, or will it fake-break and then rebound?