Tradingview deleted my last LTC post, not sure why, but here it is again..
FACTS IN THE CHARTS (THE SIMILARITIES BETWEEN 2017 AND 2021):
1. Dropped 68% in AUG 2017 2. Dropped 68% in MAY 2021 3. 2017 STOCHASTIC RSI STRUCTURE LOOKS EERILY SIMILAR TO 2021!! 4. 2017 RSI STRUCTURE LOOKS EERILY SIMILAR TO 2021!! 5. If we continue the trend, we may dip to the fib levels below before we start shooting up in August 2021!!
BUY TARGET LEVELS: Target 1: $144 (Corresponds to the 0.5 Fib) Target 2: $120 (corresponds to the 0.618 Fib)
SHORT TERM BEARISH! BUT WILL RISE VERY FAST!!!! Stochastic RSI on the Daily and Weekly looks BULLISH!! May cross bullish any day... RSI is also oversold both on the Daily and Weekly!
BUY TARGET LEVELS: Target 1: $144 (Corresponds to the 0.5 Fib) Target 2: $120 (corresponds to the 0.618 Fib)
SELL TARGET LEVELS: Between red box. Always take profit on the way up!
Good Luck!
"If you can't beat the fear, do it scared!"
"Be fearful when others are greedy, and greedy when others are fearful!" - Warren Buffet.
"Markets are a device for transferring money from the impatient to the patient. - Warren Buffet
"Show me the charts, and I'll tell you the news." - Bernard Baruch
does it raise any concern that unlike 2017 we still have yet to cross the dotted line half way point of the channel ? you still think we can touch top of channel this year ?
jbutler7
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@paintboy, Not for me, I have my channel drawn differently than here, and it looks about middle like 2017.
blocks2chains
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Brilliant. Thanks for sharing. How does this theory compare apply to Bitcoin, have you checked to see if same similarities are visible on BTC chart?