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LTC fractal - why would you be short?
LTC has been moving sideways since the end of March which reminds me of the sideways action from Aug-Nov in 2018 before the drop down. I think this time is different and LTC breaks upwards after this sideways movement ends at the end of the month/July.
Two main reasons why I think this time is different and we break upwards:
1) Overall trend is upwards after the free-fall at the beginning of March
2) Symmetrical triangles typically break out in the direction of the trend. Back in Aug-Nov 2018, the overall trend was down with a descending triangle, both of which indicate a drop.
Please note: I think we can go down to the $38 range but that's not a large enough drop to worry me. To be a bear right now has to be exhausting, only a matter of time before we see some upwards movement.
Thoughts/Comments?
TG
Two main reasons why I think this time is different and we break upwards:
1) Overall trend is upwards after the free-fall at the beginning of March
2) Symmetrical triangles typically break out in the direction of the trend. Back in Aug-Nov 2018, the overall trend was down with a descending triangle, both of which indicate a drop.
Please note: I think we can go down to the $38 range but that's not a large enough drop to worry me. To be a bear right now has to be exhausting, only a matter of time before we see some upwards movement.
Thoughts/Comments?
TG
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.