LTC Breaking the Wedge Path to $150+
Pattern
The price is confined within a falling wedge, gradually narrowing towards the apex.
Current Situation
The price is testing the upper trendline, indicating an attempt at a breakout.
Potential Action
A confirmed breakout will be signaled if a 4-hour candle closes above the trendline.
Target
A breakout from the wedge could drive the price towards $150+, as the wedge's height suggests potential upward movement.
Stop-Loss
Placing a stop-loss below the recent swing low or the wedge's lower boundary can manage downside risk.
This setup suggests waiting for confirmation before entering a long position to capitalize on the expected bullish momentum.
The price is confined within a falling wedge, gradually narrowing towards the apex.
Current Situation
The price is testing the upper trendline, indicating an attempt at a breakout.
Potential Action
A confirmed breakout will be signaled if a 4-hour candle closes above the trendline.
Target
A breakout from the wedge could drive the price towards $150+, as the wedge's height suggests potential upward movement.
Stop-Loss
Placing a stop-loss below the recent swing low or the wedge's lower boundary can manage downside risk.
This setup suggests waiting for confirmation before entering a long position to capitalize on the expected bullish momentum.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.