LTC - Remember, Remember The Month of November

Preface: I know, there are a lot of lines, but they are necessary.

If there were an option for 'Long, Short, Long' I would have picked that. So far, LTC is following my line perfectly. I don't expect it to match 100%, but I believe it will follow a very close path. October will be the 'B' Wave (Long) and November will be the 'C' Wave (Short). Once we reach the bottom, December should launch us into the next running of the Bulls (pun intended).

Following this path will start a long term iH&S formation that will play out over the next 6 months. If October confirms as Wave B, the game will be afoot.

Note: This scenario also takes into account Goldman's prediction of $2200 for BTC. After taking a closer look at the fractals, that price point should be spot on.

Happy trading, folks.

-MV

評論:

We have hit, what appears to be, some sturdy resistance between the $53 and $56 marks. Crypto historically goes through periods of consolidation before large price movements. I am still confident that the longer term outlook for October is up.
-MV

評論:

So far, LTC is significantly underperforming. My best guess is that investor confidence is in the doldrums due to lackluster news surrounding tech. Volume is minimal right now. So, expect the irrational price movement to continue.