5 reasons I am not re-entering LTC today
Reason 1: BTC uncertain/general sentiment a bit in question.
Reason 2: we are up against major resistance on the daily chart (see chart).
Reason 3: major bear div on daily chart.
Reason 4: Elliot wave is either complete or we are approaching Wave 5 which is against my rules due to it being the highest risk wave to enter.
Reason 5: price action in consolidation shows that bulls are only active for short bursts during bounces. Their power band is limited and the general price action dictated by bears/profit.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
Reason 2: we are up against major resistance on the daily chart (see chart).
Reason 3: major bear div on daily chart.
Reason 4: Elliot wave is either complete or we are approaching Wave 5 which is against my rules due to it being the highest risk wave to enter.
Reason 5: price action in consolidation shows that bulls are only active for short bursts during bounces. Their power band is limited and the general price action dictated by bears/profit.
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***