$LIT has fallen below the 3.5 level. There are two possible scenarios next:
① A bounce fails to reclaim 3.5 → the level becomes resistance, with the 24h low of 3.4584 as the first downside target.
② A quick move back above 3.5 → this was probably a false breakdown, and short sellers could get squeezed instead.
Personally, I’m paying more attention to how the first bounce is received.
① A bounce fails to reclaim 3.5 → the level becomes resistance, with the 24h low of 3.4584 as the first downside target.
② A quick move back above 3.5 → this was probably a false breakdown, and short sellers could get squeezed instead.
Personally, I’m paying more attention to how the first bounce is received.