MagicPoopCannon

Masterful Pattern Recognition! Fractals in Litecoin! (LTC)

BITFINEX:LTCUSD   Litecoin / Dollar
Welcome friends, to this one-of-a-kind, masterful analysis, brought to you by the magician of the charts! I've got to get this out quick, because the breakdown is starting to happen. You can see that LTC is in a bear flag , after falling out of a triangle formation. The height of the triangle suggest a full potential correction down to the 137.50 area. The height of the bear flag , also suggests a correction to the 137.50 area. When multiple formations suggest price targets in the same location, it's usually an indication of fractal relationships in the patterns. In other words, when multiple patterns suggest similar price targets, it's showing you that each formation is a small piece of the whole. Think of it as a kaleidoscope. When you look into a kaleidoscope, you see a series of geometric             shapes that nearly or fully represent the whole. Technical analysis is similar sometimes, in that there will be several structures that suggest a convergence on a common point. That doesn't mean that we will get to 137.50 for sure. Patterns don't always correct or rally to their full potential. However, when multiple formations converge on the same target level, it increases the likelihood of that target being reached. The size and location of each formation (the triangle and the bear flag ) suggests a common downside target around 137.50. That level meets the low of 1/17 perfectly. A breakdown from the bear flag will further validate that downside target, and that breakdown appears to be happening as I write this. Prepare for lower prices everyone. This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

-JD-
May be best to not use the word masterful
Balas
Keep waiting for LTC to drop to 136, maybe one day you may get it, not before it reaches all time high CIAO
Balas
LTC ready to explode Poop 189 now, see you in one hour
+1 Balas
nalezeau GazMema
@GazMema, You are correct. LTC is ready to explode Poop. So, that implies downwards, yeah? :-)
Balas
GazMema nalezeau
@nalezeau, 220 tomorrow
+1 Balas
nalezeau GazMema
@GazMema, I'll take the under on that call - but I do hope your right.
+1 Balas
GazMema nalezeau
@nalezeau, where's your master's 136 target loser? it went from 170 to 158 (-12 usd) then to 194, which was 24 usd my direction. Yes, i buy continuously when it drops. I have coins to sell when it's green, i have USD to buy when it's red.
Balas
nalezeau GazMema
@GazMema, thats great. Good work.
Balas
GazMema nalezeau
You keep waiting for 136, or 137 good boy. keep that brain of yours new, let the Poop think for you. What do you do if it reaches 137? Do you buy? Then it drps to 104, and sell scared? There is no Poop to tell you what to do then!
Balas
nalezeau GazMema
@GazMema, haha. 137 it is. Thanks Magic!
Balas
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