Updated

LRC, Handmaiden to ETH

Just a simple post to highlight 2 things:
1) The LRC pump is not over yet
2) LRCETH pumps often herald subsequent explosive ETHUSDT pumps

Note

• While everyone is focusing on the LRCUSDT chart, the more important LRCETH chart is neglected.
• The LRCETH pump is not over yet.
• However, much much more importantly, always plan ahead.

Note

Looking forward to the Dec close.

Note

• That was a good monthly close. The descending parallel channel that LRCETH has been in since Apr'18 has held.
• If history were any indication, then let's be patient and wait for the following (in no particular order): 1) LRCETH weekly close below the topline of the parallel channel; 2) LRCETH dumping; 3) ETHUSDT pumping.
• L2 is needed, and LRC's L2 protocol is a good one. But I can't figure any other reason why it needs to be tokenised except for profitability. That's not a bad reason to be honest, but I really wonder...

Note

• I'm not sure how much this will amount to, but this may be the first daily candle which both opened and closed below the topline.
• What next?
• Some milestones to watch: 1) weekly close below the topline; 2) weekly open and close below the topline; 3) monthly open and close below the topline.

Note

• LRCETH indeed closed below the topline.
• Daily open and close below the topline.
• The weekly is currently trying to break it (with low volume).
• Let's see if ETH can hold the line.
• If so, bullish for ETH and adds weight to the hypothesis that LRC is a liquidity handmaiden for ETH, euphemistically and metaphorically speaking.

Note

I must say that I am surprised by LRC. Let's see if it's a bulltrap or a genuine breakout.

AlphaBravoCharlie77

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