Hello dear crypto friends! ;) As my mentee Richard just posted: Litecoin is currently inside both a Daily and 4H EQ: We can perfectly see the 4H EQ as two Daily inside bars. Also we can see that the Daily pattern nicely first formed an Evening Star, and in the same move a Morning Star Reversal: A break of the 4H tightening would give the bears around 6% profit until the EQ bottom, and could lead to further tightening on the Daily EQ range. From there, we can still break bullish above 140, or bearish underneath 125.
If we instead break bullish out of the 4H & Daily EQ immediately, we would have at least the 150 with solid 7% profit potential, if not even higher.
Of course, grandpa BTC is gonna be a main factor in the decision, as we're right now looking towards $10k. Should we take that out, the above breakout scenario would almost certainly play out. If BTC cannot manage to break $10k, we would probably also retrace with LTC.
If you have difficulty recognizing those levels yourself, just as my mentees can do completely on their own: just let me know. I wish you a good trading! :)
Edgy is providing trading metrics & online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
If we instead break bullish out of the 4H & Daily EQ immediately, we would have at least the 150 with solid 7% profit potential, if not even higher.
Of course, grandpa BTC is gonna be a main factor in the decision, as we're right now looking towards $10k. Should we take that out, the above breakout scenario would almost certainly play out. If BTC cannot manage to break $10k, we would probably also retrace with LTC.
If you have difficulty recognizing those levels yourself, just as my mentees can do completely on their own: just let me know. I wish you a good trading! :)
Edgy is providing trading metrics & online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
