Hi guys!
Here is another trading idea.
Litecoin seems to be finishing an ABCDE consolidation phase with lower highs where it found a bottom.
A breakout to the upside would not be crazy as the Price found support on the bottom 3 times in a row.
A first long time price target is the ATH where the Descending triangle begins. You can trade this by entering a position after the price breaks out of the Triangle and confirms the former resistance as a new support.
- Peace
Here is another trading idea.
Litecoin seems to be finishing an ABCDE consolidation phase with lower highs where it found a bottom.
A breakout to the upside would not be crazy as the Price found support on the bottom 3 times in a row.
A first long time price target is the ATH where the Descending triangle begins. You can trade this by entering a position after the price breaks out of the Triangle and confirms the former resistance as a new support.
- Peace
Comment:
The Diagonal Resistance is drawn a bit sloppy, if you want to place your orders make sure to draw it yourself so it touches the price action. Good luck!