A continuation of my ideaContinuing my LRC idea - waiting for more confirmations of trend movement, but It is starting to look good although a little underwhelmed at the response of the recent news. Volume needs to pick up considerably for us to break the next few upcoming areas, but with all the information coming in we really see it pushing sideways for months as an accumulation phase begins.
To reiterate what we said in our previous posts - we are still looking to remain under 2 dollars until August.
People say TA doesn't work but that's only because they don't understand what they're doing. It is achievable for the regular person to turn 5k into 100k with, of course, some ups and downs.
This chart here is a very basic look dumbed down to show a new person what they're looking at and to give me clarity when I come back to look at it like speaking ideas out loud. TA is much more involved and complicated than just this chart with 3 indicators. It took me 4 years to really understand and get my emotions under check.
Loopring
LRC LoopRing breakout but don't chaseLittle bit of an accountability video from me.
I believe I posted here yesterday, my elliot wave prediction for LRC.
I was wrong. It broke straight through my upper negative resistance trend and has now hit it R2(..? 🤯) weekly pivot.
I'm still going to be posting this in a short position for LRC, because I do still believe that we are going to see a descending triangle breakout.
In this video I also share about how important it is to locate, chart, and follow your positive and negative trend/channel convergences.
Watch till the end to get a little advice on using the strength index.
PATTERNS , baby.
LRC to drop down to the T1.00 pivotLRC has had an incredible run since the gamestop announcement!
However whith any run that banks ~50% in less than 6 hours... you're gonna get a correction.
We're within a downward elliot wave cycle with E/1 landing at just about a dollar, once LRC tanks and goes below 0.99 or so
We will than see a rise back up but will, in my opnion, stay within the downward trend into the triangle for an eventual breakout.
Loopring x Gamestop!The Loopring x Gamestop announcement is finally here and official.
- link to tweet: twitter.com
- link to GameStop Marketplace Beta: nft.gamestop.com
Macro:
Loopring continues an overall large uptrend when looking at weekly candles.
With a market cap of ≈ $1.3 Billion, Loopring has a lot of room for big gains.
Short Term Chart:
Loopring has been rejected twice by its 200 day moving average in the past 2 months.
Correlating with Gamestop's pump, Loopring has shot up (to its recent top) over 80%.
As long as GME & BTC stay in good shape (which they both are!) - I think we can see LRC push past the 200D to higher evaluations.
LOOPRING (LRCUSDT) MID to Daily tf Range Updated till 23-3-22LOOPRING (LRCUSDT) midtier to Daily timeframe range. if you look at the hyper aggressive pump from November 2021. you can be sure about that its a high risk and reward alt without any doubt. from its top to bottom its provided some reasonable swing positions. the dump from its top was not as aggressive as the pump which is a surprise and it tells why those swing positions are reasonable here. its pretty straight forward chart here. from very basic rules of TA if one can utilize its range could end up in profit from both sides.
LRCUSD heating up! $8.00 on sight!Loopring (LRCUSD) has seen the strongest rise of the top 100 market cap coins in the past 24hours and is currently testing not only the 1D MA100 (green trend-line), which has been intact since January 08, but also the horizontal Resistance that is holding since January 20.
I've posted the very same LRC chart about two months ago and seems to be coming to fruition:
The last time a similar Resistance level was tested, was during the previous Accumulation Phase of November - December 2020. Once the Resistance broke (accompanied by a 1D MA50/100 Bullish Cross), LRCUSD had a very aggressive two-day rally and entered a strong 1.5 month bullish stretch. Even the 1D RSI sequences of today and then seem fairly similar.
Technically, if the price breaks those two Resistance levels, and since LRC has been trading within a Fibonacci Channel since early 2020 that has been making each High on the higher Fibonacci extension level, then the natural long-term target would be the 2.5 Fib ext. However we often see a tendency to face Resistance on the previous Higher Highs trend-line and that currently is the Fib 2.0 ext. We thus view the $8.00 - $10.00 range as a realistic long-term target zone.
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LRC.Usdt (Y22.P1.E1).Reversal signal Hi All,
We have early signs that BTC can be reversing to a bullish stance and its coincides with this structure to break out bullish.#LRC #Loopring
We have the resistance trend line breakout + the structure and we have the fib level.
All giving some potential bullish stance.
Please give me like and share.
Regards,
S.SAri
LRC I stepped away for a bit and came back to my chart with some slightly different outlooks and ideas.
Still think we will touch trend once more, and I dont think we will repeat history and drop below trend before resuming an uptrend. Some people are calling for 50 cents, we cant see that, but we do think the next month will be red-ish/sideways.
Seems to me like august will be the area to resume a bull trend and until then we slowly creep upwards under 2 dollars..
Loopring set to blast (if not then invalidation is close)Loopring #LRC has sold off sharply and now has returned to its support. The chart tapped the diagonal trendline three times. Three taps have preceeded major increases in value in the past for example for ATOM or ETH. Idea is invalidated if chart closes below its recent daily low. Best wishes