ANALYSIS 🔎
- LTCUSDT brokeout above the symmetrical triangle's inclined resistance as expected from my previous analysis.
- The market is currently undergoing retracement.
- Price is retesting the symmetrical triangle's inclined resistance, fibonacci retracement levels, flip horizontal support and projected ascending channel support. Omo confluence choke 😂.
- A bullish pin bar (hammer) was formed at the retest area.
- The retracement is resisted by the descending trendline resistance.
- Confirmed bounce off the retest area could be seen as a bullish signal.
BUY ENTRY ⬆️
- Breakout above the descending trendline resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
- Projected ascending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the projected ascending channel support.
- LTCUSDT brokeout above the symmetrical triangle's inclined resistance as expected from my previous analysis.
- The market is currently undergoing retracement.
- Price is retesting the symmetrical triangle's inclined resistance, fibonacci retracement levels, flip horizontal support and projected ascending channel support. Omo confluence choke 😂.
- A bullish pin bar (hammer) was formed at the retest area.
- The retracement is resisted by the descending trendline resistance.
- Confirmed bounce off the retest area could be seen as a bullish signal.
BUY ENTRY ⬆️
- Breakout above the descending trendline resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
- Projected ascending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the projected ascending channel support.
