Previously on my last setup on LTC. The price was trading at channel resistance. We saw a nice pull back where horizontal and trend support meet.
Now LTC has been forming this rising wedge for a couple weeks now. MacD still looks bullish on 4H chart. The 1H chart shows a curve developing.
๐ $125 marks a strong horizontal resistance. 4H closure above this resistance cluster will give us higher chances of trending towards channel resistance at the top.
Its always to enter trades after confirmation. Possible 5 - 8% gains.
๐ 117.50$ marks a local support area. We can see price trading between these 2 zone. This could be a accumulation zone, as today is the holidays its possible we may not see any sudden movements. But then again the crypto market is very volatile.
Entering a short after closure below this support zone would trend LTC to its channel support. Possible 9 - 13% gains.
Previous Setup:
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Now LTC has been forming this rising wedge for a couple weeks now. MacD still looks bullish on 4H chart. The 1H chart shows a curve developing.
๐ $125 marks a strong horizontal resistance. 4H closure above this resistance cluster will give us higher chances of trending towards channel resistance at the top.
Its always to enter trades after confirmation. Possible 5 - 8% gains.
๐ 117.50$ marks a local support area. We can see price trading between these 2 zone. This could be a accumulation zone, as today is the holidays its possible we may not see any sudden movements. But then again the crypto market is very volatile.
Entering a short after closure below this support zone would trend LTC to its channel support. Possible 9 - 13% gains.
Previous Setup:
๐ ๐ ๐
Happy Holidays Everyone! Thanks for viewing and supporting this idea!
