Great key to knowing the market! for WHITEBIT: LTCUSDT by TheSignalyst – Technische Analyze – 2023-01-06 21:50:26

Hello TradingView family / fellow traders. This is Richard, aka TheSignalyst.

I always keep an eye on Litecoin to know the cryptocurrency market in general.

LTC has been across the board rising From a mid-range perspective Trade inside the red rally Wedge breadth pattern.

After rejecting the upper red trend line and breaking below the last gray secondary low, the bears grabbed a bearish revision.

As we trade lower, we will approach the lower bound of the uptrend Wedge breadth .

Also, the red zone is the previous high and demand area .

So the highlighted purple circle is a strong area to look for buy setups Because it’s a red cross demand area and the lower blue trendline. (as a non-horizontal support)

According to my trading style:
When LTC gets close to the purple circle area, I will search rising Reflection settings (eg Double bottom pattern, Trend line break and so on…)

If we break down the lower red trend line, expect more bearish Motion to a big blue minimalist wedge about 55.0

Always follow your trading plan regarding entry, risk management and trade management.

good luck!

All strategies are good. If managed properly!
~ rich

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