LTC finds itself in a large ascending triangle in formation and is is pushing slowly towards $185.
So long as the ascending support lasts, we should re-test the $185 level pretty soon. If the top resistance won't push us down again then we will be cleared to go towards $240.
The indicators on daily are curving upwards, therefore, this momentum up has legs and I see good continuation as possible. Therefore my bias is bullish, at least until we reach the top resistance.
If however, we fall down from this ascending triangle, then the next support is at $138 and then after that at $100.
For now, longing this triangle support line is a good idea, as long as you keep a tight stop loss. But do not enter longs under resistance as we may fall back again and then a short is a better play.
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So long as the ascending support lasts, we should re-test the $185 level pretty soon. If the top resistance won't push us down again then we will be cleared to go towards $240.
The indicators on daily are curving upwards, therefore, this momentum up has legs and I see good continuation as possible. Therefore my bias is bullish, at least until we reach the top resistance.
If however, we fall down from this ascending triangle, then the next support is at $138 and then after that at $100.
For now, longing this triangle support line is a good idea, as long as you keep a tight stop loss. But do not enter longs under resistance as we may fall back again and then a short is a better play.
Like and follow if you like this idea!
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