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LRCBTC

LRC > Time to bounce-back? > Support & ResistanceHello Friends, Hope you all are having a thrill in your trading journey. I am presenting you my analysis of LRC. According to my technical analysis, LRC is going to reach its next Resistance Zone(Potential target). Now, we are expecting a fall to support zone and a rise! "My analysis is valid until We don't see a breakout from support zone" I hope my analysis is pretty clear to you guys. Kindly do your own research and follow proper risk management. Feel free to share your views in the comment section. Like and Follow! Best Regards, Shaswat Naman TradeThrill, India🇮🇳 Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by tradethrill
1
LRC/BTC { LOOPRING } - BULLISH SETUPANALYSIS 🔎 - LRC/BTC was bounded in a descending triangle pattern. - Price brokeout above the descending triangle's inclined resistance. - The market hit a swing high and retraced. - The retracement is currently testing the key fibonacci retracement zone (0.5 - 0.618 - 0.786). - There's an uptrend continuation potential. BUY ENTRY ⬆️ - Current market price. TARGETS 🎯 - Horizontal resistance level (@0.00001611). - Horizontal resistance level (@0.00002094). SETUP INVALIDATION ❌ - Initial invalidation: breakdown below the 0.786 fibonacci retracement level. - Final invalidation: breakdown below the descending triangle's horizontal support level .
Long
by Chibuike_Odoh