Cup and handle breakout target 155ish? LTC

Updated

I see a possible cup and handle breakout on LTC 4HR chart (green arrow) target of the cup and handle would be 155ish, which would test the low from March 15(purple arrow) and the underside of the maroon trendline broken previously. First major resistance would be the 1200 EMA, coinciding in that area with the top of the long term downtrend channel (black line).

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check that.. first major resistance would be 138.5, then 145(1200ema) then 155

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failure of cup and handle to break out

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a break and close below the double-top support line at 124.50 would suggest a retracement to 116 area.

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VERY IMPORTANT lines to be watching for support/resistance

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tradingview.com/x/kthCyKaN/Interesting fractal formations

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in the chart above, I color coded the similar fractal formations... they even both feature a test and potential breakout/fakeout of the trend line

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if LTC holds the blue uptrend line, we can test the resistance line at 145ish
if LTC breaks the blue line, it can test 132 support. If 132 support holds, it can test the resistance line at 145ish
if LTC breaks 132 it can complete a double top with a target of 124.50ish

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had to re-tweek the line, no break. gonna take a little break from the charts for a bit to get my sanity back lol

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since early yesterday, been tracking this rising wedge, typically rising wedges break downward, and as we approach the resistance line at 144-145-146ish, I would expect a rejection there.

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formation has good credence

Snuby3

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