What happened that this long-standing currency has started to move? Don't you have an idea in your heart? Is it possible that this is an illusion created by the market makers, aimed at attracting you to join? Only when the price goes up will people buy; if it keeps falling or is in a sideways consolidation, no one will enter the market.
When the price keeps rising, most people will rush in, fearing they will miss the opportunity, just like when the price of Bitcoin was 50,000, they didn't buy, but when it reached 90,000, they scrambled to buy. Why? Because they are afraid of missing out!
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Looking at the chart: The three positions indicated by the white arrows at the 4-hour Fibonacci level have a 1:1 retracement level at 110. Pay attention to these three positions; if they cannot hold, the price will go back down to where it came from.
Continuing to look at the chart: The wave theory at the 4-hour level is currently in the 4th wave of the retracement; the 4th wave cannot break below the high of the 1st wave. Otherwise, the 5th wave will not be established, and then we won’t know where the waves went 😃. The 4th wave of retracement must not break below the high of the 1st wave for the 5th wave to be valid.
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The volume indicated by the white arrows at the 4-hour level is also today’s highest point; the volume can be used, but what about the price? A large spike has occurred, which is a typical gravestone doji pattern, indicating heavy resistance above. There is volume but no price; volume and price are not in sync. Compare the three arrows yourself to understand it easily.
It’s not that easy to go up; new currencies can’t pull up this long-standing old currency.
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I don’t know if anyone is optimistic about this LTC; anyway, I am not optimistic, and I won't buy the last chart. If you are optimistic about this LTC, you must at least be mentally prepared, ready to be stuck for 100 days, otherwise, don’t touch it. Otherwise, you won’t even have the chance to cry; don’t believe me, just try. Don’t be fooled by its current rise; this is all purposeful manipulation; once the goal is reached, you will be trapped without negotiation.
That’s the reminder; the rest is up to you to decide. I do not recommend buying, so I do not recommend positions. Meeting adjourned.
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