LRCUSDT long
* I was toying with this chart and teaching my 9yo daughter the relationship between chart patterns and market psychology yesterday. Unfortunately, I did not publish my idea prior to the pump. Well...
* This pump may be the result of Loopring releasing news relating to Layer-2 NFTs. More news to be released soon.
* Anyway, LRCUSDT has broken out of the ascending parallel channel, forming both a potential inverse H&S and a cup and handle. Confluence and the levels align very nicely with the fib levels.
* Those who bought in near the bottom of the ascending parallel channel can take profits now.
* Or do so upon completion of the confluent inverse H&S and cup and handle.
* I personally favour the latter approach.
* Of course, nuch depends on DXY (see linked idea).
* This pump may be the result of Loopring releasing news relating to Layer-2 NFTs. More news to be released soon.
* Anyway, LRCUSDT has broken out of the ascending parallel channel, forming both a potential inverse H&S and a cup and handle. Confluence and the levels align very nicely with the fib levels.
* Those who bought in near the bottom of the ascending parallel channel can take profits now.
* Or do so upon completion of the confluent inverse H&S and cup and handle.
* I personally favour the latter approach.
* Of course, nuch depends on DXY (see linked idea).
Note
Linked idea:
Note
* Classic bull vs bears fighting at BTCUSDT's heavy 50K psychological resistance level.* BTC.D is also dropping.
* LONG ENJUSDT, LRCUSDT and DENTUSDT--which are on the cusp of completing their cup and handle pattern--if BTCUSDT breaks 51K.
Trade closed: target reached
Note
If I may shamelessly point out how well this forecast has panned out...it's damn good!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.