LTC - Litecoin breakout !

Preface:
I am a German Trader so please excuse my English, I still hope you can enjoy my analysis :)

SMA20 = Orange
SMA50 = Blue
SMA200 = Red

Line Orange = Weekly
Line Yellow = Daily
Line Purple = 4H

• I don't mention it often enough that my analysis are only a snapshot of my impression of the market. I always have a bullish AND bearish variant in mind. A bull flag MAY also resolve bearishly and a reversal formation MAY also fail.
• Should my analysis contain continuation formations, these are always IN TREND DIRECTION forming. I trade only WITH the trend.
• The most important thing is money and position management.
• Do not try to bend the market, bend with your analysis to the market.

Hello all,
attached an analysis in W1 on LTC/USDT from 11.02.2021.

Litecoin moved in a symmetrical triangle for a very long time. Interesting here is that the volume increased 5 weeks before the breakout, which shows interest again.
The breakout & confirmation candle in December formed with very high volume, this would be bullish.

The Retest reached to the Goldenpoket of the Fibo retracement and this only by wick, this would also be bullish. In addition, there is now a support line which showed reactions in 2018 and 2019.
The price bounced off this and is now rising further in the direction of progression (trend direction).

An entry could be worthwhile now after the confirmed breakout, especially in the daily chart. Possible targets would be the measured formation targets, whereby already 200$ could serve as psychological resistance, this must be observed.

Hint:
I have drawn a current trend boundary here (White) , which I take into account in my trading. I see 3 completed waves at the current time.

If you like the analyses, with pleasure a Like, then I know that I am on the right way with the information content.

Best regards and good luck
DCT-Trading