Litecoin - Descending Triangle on 4hr chart

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Litecoin stuck trading in channel on the 4 hour chart. Returned to strong resistance at $113 but forming descending triangle on 4 hour chart with an apex occurring tonight or tomorrow morning. Wicks could go sub $100 - potentially even as low as $80 - but I don't expect them to stay there for long. My buy orders are set at strong support zone of between $100 and $101. This descending triangle is a potential bear trap and looking for huge up-swing over the next few days. Green boxes to the right of the text on chart indicate my potential profit targets based on Fib retracement levels. I don't recommend stop losses in this scenario because of the potential volatility if LTC breaks $100. Will consider closing position at a loss if LTC breaks $100 and continues showing signs of bearish trend on the 4hr and daily charts .
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out