ridethepig | LTC Market Commentary 2020.10.22
📍 LTC Market Commentary 2020.10.22
A good time to update the chart here, after exactly a month we managed to complete the retrace from +/- 42 to +/- 53 without much stress. For those tracking this leg higher, a quick recap of the previous swing:
So what are we trading here?
In the immediate term, we have US election risk and covid escalating out of control. This will be enough to pull the brakes on risk assets for the coming sessions from a strictly macro perspective.
Given that BTC is quickly becoming the only game in town, we can start to unwind any outstanding positions across alts benefiting from the Paypal leg and prepare for a very technical flow back towards $40.
Thanks all for keeping the feedback coming 👍 or 👎
A good time to update the chart here, after exactly a month we managed to complete the retrace from +/- 42 to +/- 53 without much stress. For those tracking this leg higher, a quick recap of the previous swing:
So what are we trading here?
In the immediate term, we have US election risk and covid escalating out of control. This will be enough to pull the brakes on risk assets for the coming sessions from a strictly macro perspective.
Given that BTC is quickly becoming the only game in town, we can start to unwind any outstanding positions across alts benefiting from the Paypal leg and prepare for a very technical flow back towards $40.
Thanks all for keeping the feedback coming 👍 or 👎
取消訂單
We failed to breakdown and now buyers are taking control of the previous resistance and turning it into support. We will re-open the call in the coming hours to start looking for long opps.
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。