The second leg of LTC's rounded double top reversal is about to begin. All indications point down. We did have a bear flag, but the second top was formed and the bearish arc is taking shape. And, the bearish slant will create a stronger downtrend. Although the patterns did break from my initial chart (dumpling top reversal), LTC is still on the path of a rounded top reversal (very bearish). With that in mind, I am confident in my assessment that we will dip in into the $50's.
Nota
And it's happening as we speak... As predicted.Nota
Based on the magnitude of the recent selloff, I am seeing a lot of red in the near future. We could reach insane lows if supports are broken. A lot of uncertainty here, so I'd recommend staying away from buys until this mess is sorted out.Nota
Before Wave C completes its final leg, expect a bounce. TP is 67.Nota
The bounce never came through. However, the price is still following my chart perfectly. I will admit: I did not expect the price to break the strong support at $50. Now that we're in the 40's, anything is possible. This will be a bloodbath before it's over.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.