A breakout opportunity is forming on LTCUSDT.
The pair is currently consolidating after the recent downtrend that formed several tops and offered multiple selling opportunities. Price movements are increasingly compressed and will eventually break. The same compression is building in the RSI Exhaustion indicator at the bottom.
As of now, the breakout could be either to the upside (trend reversal) or to the downside (trend continuation) so let's just wait and see when the breakout comes.
Remember to do your analysis, be patient and always look for confirmation from the indicators.
The pair is currently consolidating after the recent downtrend that formed several tops and offered multiple selling opportunities. Price movements are increasingly compressed and will eventually break. The same compression is building in the RSI Exhaustion indicator at the bottom.
As of now, the breakout could be either to the upside (trend reversal) or to the downside (trend continuation) so let's just wait and see when the breakout comes.
Remember to do your analysis, be patient and always look for confirmation from the indicators.
Note
A great trade opportunity arose during the retest of the major support at the bottom. The additional confirmation came from the RSI Exhaustion being bearish exhausted (colored red). Overall, 3.12x profit.
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📈 Trading Indicators
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❤️ Trading videos: bit.ly/MT-Channel
📊 Stock Analysis
💜 FundaView: fundaview.com
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📈 Trading Indicators
💚 1-Week FREE Trial: minimalisttrading.com
❤️ Trading videos: bit.ly/MT-Channel
📊 Stock Analysis
💜 FundaView: fundaview.com
🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺
📈 Trading Indicators
💚 1-Week FREE Trial: minimalisttrading.com
❤️ Trading videos: bit.ly/MT-Channel
📊 Stock Analysis
💜 FundaView: fundaview.com
🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺🔺
Related publications
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.