LONG LTCUSDT (4H)

The ELLIPSE trading strategy has generated a long signal (4H timeframe) for Litecoin (LTC) at $77.51.

The price has recently broken through the monthly pivot (P) level (denoted by the orange line) and has subsequently seen both the price and lagging line on the daily chart break out of the Ichimoku cloud (as evidenced by the green background on the 4-hour chart).
The first significant resistance level encountered was the yearly pivot (P) at $88 (indicated by the black line). The price has been hovering around this level for approximately 2 weeks.

Today, the price has broken through this level with high volume, indicating that the trend is likely to continue with the next major resistance level being the yearly resistance (R1) at around $135. Keep in mind that there may be additional resistance around monthly R3 ($107), R4 ($118) and R5 ($129).
Additionally, the alignment of all 9, 21, 50, 100 and 200 exponential moving averages suggests a bullish trend.

Note that the halving of the block reward is scheduled to occur around August this year, which has historically led to a bullish momentum.

Transaction en cours:

The trade on the 4-hour chart is still active, and the script has been switched to a higher time frame (daily, indicated by the green background) to make a decision based on the bullish trend observed in the higher time frame. This is done to avoid noise and ensure a clear and informed decision-making process.

Currently, the price is receiving support from the yearly pivot ($88) after bouncing back from it.
The previously set targets are still in play, and the trade is being managed accordingly.

Trade fermée: ordre d’arrêt atteint:

A bearish TK cross on the daily chart of LTCUSDT was observed, leading to the closure of the trade on the 4-hour chart at a price of $93.59, resulting in a profit of 21%.