If you recall, from one of my previous LTC posts, I masterfully recognized a correlation between momentum crossovers, suppressed , and corrective moves. In the post, I said "You can see that each time a trough was made on the chart (red arcs,) which corresponded to a crossover on the (red circle,) a corrective move followed." Looking at the current LTC chart, we can see that we have suppressed , but haven't yet gotten a full crossover. If the crossover occurs, we can expect that a corrective move will ensue, based on this remarkable repetitive pattern. On the downside, initial support lies at the 78.6% retrace. A break below that, will open the door to about $128, and then the bottom of the blue channel. On the upside, resistance should be found at the 50 , and then the "critical resistance" level.
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.***
-MPC loves you-
Happy trading !