LTCBTC 1D/Weekly - Wedge within a Wedge
While the daily wedge has broken, the weekly hasn't!
Some targets are shown in yellow.
Risk Reward can be done considering these targets.
1st target was hit and it is current selling off.
I would expect that weekly wedge resistance combined with the next horizontal support/resistance would be a better confluence for a bigger sell off (compared with the current one). - around the 0.0049 sats.
A revisit of the weekly wedge support is still possible. Taking profits is important.
Still currently LTCBTC is at lows and this is still a low risk position.
Can it go lower? Absolutely!
Some targets are shown in yellow.
Risk Reward can be done considering these targets.
1st target was hit and it is current selling off.
I would expect that weekly wedge resistance combined with the next horizontal support/resistance would be a better confluence for a bigger sell off (compared with the current one). - around the 0.0049 sats.
A revisit of the weekly wedge support is still possible. Taking profits is important.
Still currently LTCBTC is at lows and this is still a low risk position.
Can it go lower? Absolutely!
Awaiting to see the outcome of the touch on weekly wedge resistance.
1-bullish case
2-bearish case