Sold my last LTC play in profit, albeit much earlier than I wanted to, now we're here at this fib/support level again and LTC is remaining strong at $40. Seemingly a double bottom on the hourly, and a triple bottom on the 15 minute.
Purple fibs drawn from the bottom to each peak.
Yellow lines are the 0.786 fib level for each peak, and it shows historically how they have been consistent predictors of bounce levels.
Green lines are simple Support levels.
I'm buying here, if this doesn't hold or bounce, the next solid level will be around $29 according to both fib and support levels. Pretty common sense play. Risk/reward is down $2 but up $4-6.
Purple fibs drawn from the bottom to each peak.
Yellow lines are the 0.786 fib level for each peak, and it shows historically how they have been consistent predictors of bounce levels.
Green lines are simple Support levels.
I'm buying here, if this doesn't hold or bounce, the next solid level will be around $29 according to both fib and support levels. Pretty common sense play. Risk/reward is down $2 but up $4-6.
Trade closed: stop reached
Jesus Christ that did not turn out well, so bearish. We're currently at 36.50 and Knowing crypto we're going to end up above $38 and I'm going to have been stopped out for no reason. But you have to follow the plan right. I'm thinking of ETH at $150 nowNote
...and sticking to just shorting the legacy markets, my WMT, TQQQ and AMD shorts and my JNUG long are more than easing the loss from this trade and I'm finding legacy much easier to predict.
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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.