LTCUSDT is testing a key level right now!
Litecoin had a false breakout from the weekly support in the 47$ area. The market grabbed new liquidity and started with a consolidation phase until a breakout of the daily resistance of65$ area.
The market is creating Higher High and Higher lows after a sweep of liquidity on 80$ area.
How we can approach it?
At the moment the price is testing a key level, not a trade zone for our Strategy, but I add it to my watch list. The market is creating a potential Rising wedge, between the weekly support. I'm watching the 80$ area resistance and 70$ area support.
If the price is going to have a breakout from the support and retest it as new resistance, I'm going to look for a new short opportunity applying CPS strategy, otherwise, if the price is going to have a clear breakout with volume and confirmations, I could apply the MTB and CPS strategy with a possible target on first supply zone
The market is creating Higher High and Higher lows after a sweep of liquidity on 80$ area.
How we can approach it?
At the moment the price is testing a key level, not a trade zone for our Strategy, but I add it to my watch list. The market is creating a potential Rising wedge, between the weekly support. I'm watching the 80$ area resistance and 70$ area support.
If the price is going to have a breakout from the support and retest it as new resistance, I'm going to look for a new short opportunity applying CPS strategy, otherwise, if the price is going to have a clear breakout with volume and confirmations, I could apply the MTB and CPS strategy with a possible target on first supply zone
Comment:
I'd like to see a daily close above the daily resistance
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16%
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20%
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The price is testing the weekly resistance as I said
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23%
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27%
Comment:
nice profit here, more if the price is going to have a breakout from the supply zone
