Art_of_Trading

LITECOIN (LTC) Breakouts - Opportunity to Go Long?

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BITFINEX:LTCUSD   Litecoin
There is an interesting setup on Litecoin H1 chart. The price reached the resistance level at 171 and it is considered as a valid breakout, because the bars closed outside of resistance zone. Then, it backtested back and went up. It means, the buyers got control of the price and the more bullish moves are expected. That previous resistance now acts as a support level again.
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