What’s Up with That $LTC Long Wick Candle?

Candle in Focus:

• Date: April 2, 2025

•Hour: Around 10:00

•Wick Low: ~$81.04

•Wick High: ~$85.84

•Close: ~$81.64

What It Tells Us:

1. Bull Trap / Fakeout

That long upper wick shows price spiked up quickly (~$4+) but got rejected just as fast, closing much lower. This is often caused by:

•Stop hunts above resistance

•Shorts getting liquidated temporarily

•Low liquidity letting price pump momentarily

2. Strong Selling Pressure

Bears came in hard and pushed the price right back down, showing sellers are still dominating. Despite an aggressive upward move, buyers couldn’t hold the level, which is a bearish sign.

3. Liquidity Grab

It’s likely a liquidity sweep above the local high, possibly to clear stop-losses before resuming the downtrend.

How to Interpret It:

•Rejection Candle: Bearish continuation is more likely unless bulls reclaim the wick high.

•Price closed way below the wick → momentum still favors the downside.

•Volume spike during that candle = manipulation or strong resistance met.

Key Takeaway:

That candle screams rejection and indecision, but with the close near the lows and trend still bearish, it likely signals more downside unless bulls can flip $85+ into support.