We have been completely respecting the fib 6.18 lately. I see there is a potential bull flag
here but i am hesitant to jump on the moon ship just yet. The volume
has been decent the past few days compared to prior action which shows a much more bullish
scenario then bearish
. We are in a 14 month bear market now with still no higher highs. We are clearly showing a consolidation zone which gives me hope. Also if you look at the 4hour candle you can see a falling wedge
and per classic TA theory we would need to break above the falling resistance line with an uptick of the volume
and finish off in the area of 3800-3950. Totally speculative because we have not made any higher highs in the macro. Just be careful the double bottom
retest is still not out of play imo
. Im still waiting for the capitulation to happen. On the weekly candle we still have the descending triangle
formation in play with the descending resistance line with multiple lower highs.
Is LTC the leading indicator for the market right now? Keep an eye on what its doing! LTC is at a super critical area with old support from 2017 and new resistance on the weekly time frame. Is LTC showing we are running out of gas or about to punch through?
Have we had any new capitol come in or is this just recycled money thats already in the market? I havent seen any signs of life for new blood in months. Have a good day please comment and or direct message me to talk!