Chibuike_Odoh

LRCUSDT - Possible uptrend continuation πŸ”Ό

Long
BINANCE:LRCUSDT   Loopring / TetherUS
Analysis πŸ”Ž: LRCUSDT brokeout above the symmetrical triangle's inclined resistance.
Price hit a new All Time High ( ATH ) and retraced.
Price is testing the flip horizontal support + key fibonacci retracement levels.
Price action is printing the inverse head and shoulders trend reversal pattern.
A bullish pin bar ( hammer ) was formed at the swing low (inversed Head).
Possible uptrend continuation.

Buy entry ⬆️: breakout above the inverse head and shoulders neckline resistance.

Targets 🎯: previous swing high ( ATH ), fibonacci extension level (1.0).

Setup invalidation ❌: breakdown below the right shoulder support level .

Comments

Nice chart. Would love to see this a bit lower
+1 Reply
Chibuike_Odoh EasyCharts
@EasyCharts Yeah , i thought about that too . But the all time chart would give a better analysis. You can zoom in to the 4H timeframe for a better view of the inverse head and shoulders trend reversal pattern.
Reply
EasyCharts Chibuike_Odoh
@Chibuike_Odoh, I'd like it lower but I doubt it'll come. 4H looks like a great set up
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out