Jack's Trading Classroom | LTC/PERP Litecoin Forms Inverse Head and Shoulders Pattern Awaiting Breakout

Currently, we are looking at the four-hour candlestick chart of LTCPERP. Litecoin is showing a head and shoulders bottom pattern on the chart, similar to the four-hour trend chart of Ethereum, with a complete pattern structure.

Currently, we see the four-hour candlestick chart of LTCPERP, showing a head and shoulders bottom pattern for Litecoin, similar to the four-hour trend chart of Ethereum, with a complete pattern structure.

Waiting for the neckline trendline and the resistance at 207.79 to be broken, one can choose to enter a long position upon closing higher.

• It is recommended to set the stop-loss point at the low of the head at 117.92 or the low of the right shoulder at 155.07.
• The profit target can be set to the Fibonacci sequence level of 200 at 299.66.

In recent days, the digital currency market has seen significant fluctuations. It is advised that operators strictly implement risk control measures and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article reflects personal opinions, please consider carefully, as cryptocurrency trading may pose risks to your capital.

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