Recently, I've been seeing some feedback in my comment sections, from people who are questioning my post in LTC, while still having targets in LTC and others. People were saying that it didn't make sense, and that it was stupid and so forth.
Well, here is my reasoning, which I've made very clear in all of my analyses. As I've stated, the targets that I produced on my charts, which were derived from measurements of structures, would only be reached if the respective structures retraced to 100% of their corrective potential. As you can see, LTC reach the target. However, BTC , ETH, XRP and others, did not. I've always said, that structures don't always retrace to 100% of their potential. That is common knowledge in . Likewise, structures don't always break out to 100% of the breakout potential. Sometimes they do, and they go even farther. The point is, with each chart, I was simply trying to illustrate the maximum downside potential, based on the structures created on the chart. If the market reverses as a whole, and some targets are met, but other targets aren't, who cares? The market has reversed! The current bounce is nice, and it could definitely be a bottom in the bear market. Or, it could be a dead cat bounce, before this market swallows the bulls like chunks of chicken soup. Personally, I'm long, but with very tight stops. As I'm writing this, LTC is beginning to test the 50. Let's see what it does.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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