The idea here is to trade the break of this short-term rising wedge. Ideally a time filter of at least 15 minutes should be applied in order not to catch a bear trap.
Stop loss level above the recent high.
Take profit level based on the MPO from the base of the wedge. It also coincides with the latest support level.
RSI is in the overbought region + looks like a double top has been formed. And the trend line on RSI looks like is going to break anytime as well.
For me its an ideal trade set-up. If you will check my previous posts, you will notice how well triangles and wedges work with Litecoin. Don't trade a lot lately, like to search for the quality trades, not the quantity.
The pattern will get invalidated if we don't see a break in the next 21 hours.
Good luck!
Order dibatalkan
So if the price will slide downside in the next hour or so, think it might be quite possible.