Based on the 1-hour chart of LTC Perpetual Futures $LTC
Directional Bias: Bullish (Short-Term Pullback Completed)
Price Action & Structure Justification:
a) Trendline Respect with Bullish Wick
Reaction:
Price sharply pulled back to a well-defined ascending trendline and showed strong wick rejection near the 61.8% Fibonacci retracement, indicating active buyers at that level.
This is a classic bullish continuation setup after a healthy correction in an uptrend.
Higher Highs & Higher Lows Intact:
a) Despite the drop, the market structure remains bullish as long as price stays above the 100.00 psychological level and ascending trendline.
This is a bullish flag/pullback within an uptrend—common in trending markets.
Dynamic Support (EMA Interaction):
The price is hovering around short-term moving averages which could act as dynamic support.
Fib Confluence Zone:
Price dipped into the 50%–61.8% Fib retracement zone, typically a high-probability area for trend continuation.
The bullish wick reaction around this zone indicates liquidity grab and buyer re-entry.
Key Levels to Watch:
Immediate Resistance: 102.50–103.50 zone (near 38.2% Fib and recent consolidation highs)
Support Levels:
100.00 (psychological + 61.8% Fib + trendline)
98.80 (78.6% Fib, break below this invalidates current bullish bias)
Trade Strategy Summary:
Bias: Bullish continuation expected if price holds above 100.00 and confirms above 102.30.
Idea: Long on pullback retest of 101.20–101.50 zone, targeting 104.50–106.50.
Invalidation: Strong close below 98.80 trendline + Fib confluence.