After a wild night of dumps and bounces, we are forming the hourly equilibrium pattern exactly as highlighted and anticipated in the youtube video last night.
We will look for this pattern to continue to tighten before a clear break this afternoon.
LTC currently has the tightest pattern and will break first, potentially giving us some clues as to the other two names.
Keeping eyes out for potential BCH correlations for clues as to the direction of the break as well.
BTC is the leader of the space with significant correlations driving LTC and ETH when volume and volatility picks up.
Yesterday was a big reminder to have a game plan established, and not to panic under extreme conditions.
If you are a newer trader, trying to trade in this environment will likely eat you alive. Dont force things and continue to work on your education and preparation.
We will look for this pattern to continue to tighten before a clear break this afternoon.
LTC currently has the tightest pattern and will break first, potentially giving us some clues as to the other two names.
Keeping eyes out for potential BCH correlations for clues as to the direction of the break as well.
BTC is the leader of the space with significant correlations driving LTC and ETH when volume and volatility picks up.
Yesterday was a big reminder to have a game plan established, and not to panic under extreme conditions.
If you are a newer trader, trying to trade in this environment will likely eat you alive. Dont force things and continue to work on your education and preparation.
Checkout our full trading resources online www.chartguys.com
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social