A bot overbought right about now, but that's okay. More of an immediate longterm analysis here, and saying that we are in an impulse as well. This is reassuring, as LTC is not an ERC20 token. No fibgoals on the immediate, yet I do have a few positions from not too long ago in this one. Yes, you might even say I spotted the impulse fractal long before this update. Watch this space, we are moving up.
Note
Just thought I would do a quick update. Obviously retraced back a bit, killing quite a few fake fractal starts, which is good. I am not terminating my positions, as its evident we have undergone a subwave 2 (note the Zigzag- typical and a retrace to >.786 area). I am willing to bet the run up and the impulsive retrace is a 1 and a 2 of a much larger pattern. But I would get suspicious if retrace is >90% and invalidate if we break the floor. Both scenarios still quite far at this junction. RSI crossed back from oversold territory. I am willing to bet we bottomed out back at 43.26 judging by that extra long whisker.Trade closed: target reached
Taking profits - Fib target reached! Multiple targets obviously reached in that huge pump. Not sure why the candlesticks are not keeping up.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.