Litecoin - Buy The Breakout Opportunity

Currency Pair: LTC.USD
Time Frame: 4hr
Predicted Direction: Long

Live LTC.USD updates will be available in the comments section below.

The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
評論: Price approaching breakout, keep an eye on the $230 level
評論: A textbook breakout, i do expect minor consolidation on the 1hr TF prior to the next bullish impulse.
評論: It's likely price could pull back towards $233 prior to targeting $250 once more.
評論: Price pulling back just shy of the $233 level, i now see $250 / $260 in the coming hours.
評論: 1hr TF providing an additional breakout opportunity.

評論: 6 minutes later the breakout is confirmed, simply await the close.
If the re-test of the recent break-out fails
You think that bullish patterns inside bearish patterns are prone to loose. Price failed to break-out through the major 10 month trend line (yellow) and has now fallen out of the rising wedge. If $182-186 fails Price should retest the previous breakout of the downtrend line (blue) around $166.
Also price retracement from a broken rising wedge usually retraces the price from the base of the wedge which ironically is the same exact price to the top of the downtrend line it broke.

update please
TomHall dogalkozmatik
@dogalkozmatik, It's simply a break & retest of the descending trendline, no real change in direction unless price breaks $210
@TomHall, thank you DEAR tom and btc update ?
going down strong with bitcoin @TomHall
TomHall emrekocabas
@emrekocabas, As of right now it's a break and retest, however it could break the minor support of $210
Thank you for your contributions to the community.
+1 回覆
TomHall rev214us
@rev214us, Thanks very much for the message :-)
Nice work Tom, Any chance you could chart XMR? I managed to work out the bottom and the breakout from the inverted h&s, but im struggling to see where it's next move is.
+1 回覆
@c4llus, I will do my best if i can today :-)
+1 回覆
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