LTCUSDT is creating a falling Wedge

The price bounced on the monthly support of 100$ after a false breakout from it.
On the daily timeframe, the price is creating a falling wedge exactly on the monthly support.

In 4h timeframe, the price is testing the resistance on 115 after a first breakout.
How to approach?
If the price is going to have a breakout from the 4h resistance and dynamic daily resistance and retest 120$ as new support, according to Plancton's rules we can look for a new long position. A breakout is not enough, you need a strategy
–––––
Keep in mind.
  • 🟣 Purple structure -> Monthly structure.
  • 🔴 Red structure -> Weekly structure.
  • 🔵 Blue structure -> Daily structure.
  • 🟡 Yellow structure -> 4h structure.

–––––
Follow the Shrimp 🦐
Chart PatternsHarmonic PatternsTrend Analysiswedgebreakoutwedgepatternswedgepennet

İlgili yayınlar

Feragatname