Within the upper established resistance and between the lower support regions that have been formed of which LTC has bounced within for the last few days--a breakout in either direction appears to be likely based upon a critical point being reached at the end of the symmetrical triangle type of pattern. From an Elliott wave perspective, we could have a truncated C around the support of the triangle, a double bottom or a more traditional 5th wave down to around the $200 area. At these points it is important to react to what the chart and market are telling you and a laddering strategy of buying smaller amounts down could be implemented to mitigate risk and dollar cost average to attain a reasonable average price. A tight stop loss at $197-$198 can be used to exit the proposed trade scenario if the wave count and subsequent play is incorrect if we reach the 5th wave down around $200. If it ends up as a truncated wave at the support a stop loss at $203 could be used although with any decision in trading this is variable depending on a multitude of factors including ones own personal trading style, risk tolerance, etc. In addition, it would be recommended to take profit at areas of prior resistance, with obvious areas being $214 and $217 respectively, from a more short term perspective. Additional potential targets are in the $223 and $227 area which might take some time to reach, so as previously stated taking profit on bounce attempts would be wise as well as considering to buy into strength if the market confirms to become more bullish on lower time frames with confluence on larger time frames being confirmed. Moreover, indicators such as RSI, DMI, QQE, can be used to obtain a better view of potential entry's and target zones. Short-term neutral --Medium-term bullish -- Long-term Bullish