I believe we broke out of a weekly trend line resistance we faced since the high at 146. The breakout measures to 165$, but you can see the trend line from the high at 182$ down to 146$ and we could see LTC go touch that trendline in the medium term and retest some levels below for support before a move to the 165$ level. If that push to that next resistance line happens before the start of November it'll hit the 100$ level or above depending on time.
Trade active:
TP: 60
TP: 80
TP: 100 area
TP: 160
Stop loss placed below breakout around 42.50...in which I'd wait an re-asses an entry point.
TP: 80
TP: 100 area
TP: 160
Stop loss placed below breakout around 42.50...in which I'd wait an re-asses an entry point.
Comment:
If we do break the 42.50 area we could possibly be looking towards a macro triple bottom, around the 25$ area.