The Daily Confirmation I'm Waiting For
Updated
If you look closely you can see we never confirm a daily candlestick on either side of this channel. I've personally been looking for the technical lines that are the most respected and this is what I've settled with. I'm mostly using this as a bullish trend-change indicator. Otherwise, we'll just keep going down regardless of breaking the bottom line since the channel/trend is down. A confirmation below the bottom line would just indicate an even stronger dump.
I personally don't think the halving is priced in, and believe we'll see a confirmation above this line this month(a strong dump down to the bottom of the channel could set that time frame back). I appreciate the theory of the halving as LTC's halving repeated a similar cycle right before it's own(from what I recall, lmk if I'm wrong). Coincidence? Possible. I'd rather leave that door open with some strategic stop-losses set than miss out on the opportunity.
I personally don't think the halving is priced in, and believe we'll see a confirmation above this line this month(a strong dump down to the bottom of the channel could set that time frame back). I appreciate the theory of the halving as LTC's halving repeated a similar cycle right before it's own(from what I recall, lmk if I'm wrong). Coincidence? Possible. I'd rather leave that door open with some strategic stop-losses set than miss out on the opportunity.
Note
Just got our confirmation outside of the channel. Lots of bulls gonna be buying dips. Will consolidation bring us back into the channel? I'd say its likely. But bullish nonetheless.Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.