LTCBTC: Possible Cup and Handle
https://www.tradingview.com/x/TE9qLRyQ
A possible cup and handle reversal pattern may be forming on Litecoin (LTCBTC) on the 4 hr chart. With the cup component already completed, the base of the cup reversing off the demand zone, the handle component has shown a steady and consistent downtrend channel which should find support along an uptrend zone of support. CCI oscillator is already suggesting bullish divergence meaning price action may return shortly to the top of the cup for ~5% gain.
If the reversal pattern plays out, theres the possibility of the price action continuing the uptrend to reach the supply zone for an approximate 9% gain.
https://www.tradingview.com/x/MBZe3x53/
Cup and handle completed on the 4 hr with a bullish wick reaching the top of the cup. Maximum profit from time of posting 5.1%. CCI oscillator has fallen below support level but if increases, may still show bullish divergence resulting in positive price action. I'm personally looking for a re-entry.
Cup and handle reversal pattern completed and reached the supply zone (red shading) for a possible maximum 9% trade. Reaching the top of the cup and handle would have netted around 5% from the time of initial posting.
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