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.
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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.