📉 $LIT – DOWNTREND CONFIRMED, BUT A SETUP IS FORMING
The chart is rough – sellers are in control, and volume spikes on red candles show heavy selling pressure. Capital flows are negative across the board, suggesting institutional outflow.
However, on the 1-hour timeframe, a cautious long could play out if support holds.
🎯 Trade Plan (Counter-Trend Long):
· Entry Zone: $2.30 – $2.41 (wait for bullish candle confirmation)
· Stop Loss: $2.230 (~7% risk | ATR: 0.063)
· Take Profit: $2.616 (~8.5% upside from $2.41 entry)
⚠️ High Risk – Only for disciplined traders.
This is a bounce play, not a trend reversal.