Simple comparison.
First off, I don't trade LTC. I'm also sure that sentiment is overwhelmingly bearish right now amongst most. Many people see the 2014 correction simply because that's what they want. Even those that aren't just shills and haters may have convinced themselves that a bear market was inevitable after their capitulation phase - maybe you are still in the depression phase too?
I'm not. I'm optimistic about this space again.
This chart shows a large breakout pending after an initial gentle decline. I don't believe a vertical breakout is imminent, but both the fractals and the market dynamics support an uptrend. However, there is more resistance this time and I suspect that any uptrend will be less dramatic.
I feel that fractals do repeat all the time, but the market conditions are what shape them into the patterns we see. Sometimes the same fractals and trends coincide and we see recognisable patterns from before. If you are honest, in my opinion, when you look at this you will see a similar constellation. The moving averages (dynamics) are also similar.
Be sure that trading now (either long or short) is risky, but don't take your eye off the ball.
First off, I don't trade LTC. I'm also sure that sentiment is overwhelmingly bearish right now amongst most. Many people see the 2014 correction simply because that's what they want. Even those that aren't just shills and haters may have convinced themselves that a bear market was inevitable after their capitulation phase - maybe you are still in the depression phase too?
I'm not. I'm optimistic about this space again.
This chart shows a large breakout pending after an initial gentle decline. I don't believe a vertical breakout is imminent, but both the fractals and the market dynamics support an uptrend. However, there is more resistance this time and I suspect that any uptrend will be less dramatic.
I feel that fractals do repeat all the time, but the market conditions are what shape them into the patterns we see. Sometimes the same fractals and trends coincide and we see recognisable patterns from before. If you are honest, in my opinion, when you look at this you will see a similar constellation. The moving averages (dynamics) are also similar.
Be sure that trading now (either long or short) is risky, but don't take your eye off the ball.
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Fractals are interpretive, often we see what we want. However that applies to everything include data analysis. What do you think? Similar? Just because they are doesn't mean we will breakout vertically now. We could just as easily do a slow climb, or go sideways. However I feel the bias on the charts is bullish not bearish
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A mosquito the size of Mt. Fuji is bigger than you think xD
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