Intro:
As the alt coin season continues and BTC dominance shrinks a lot of alt coins are showing promising patterns. Loopring ( LRC ) is another juicy mid cap alt that has the chance to go for a nice 200%-250% move, when the money flow slowly starts to enter the mid and low cap alt coins.
Pro:
- Bullish Pattern is forming quite clearly
- Volume on the third impulse up shows that buyers are coming in
- Good possible entry points
- Potential Risk/Reward Ratio = 9
Contra:
- Due to the low market cap, a potential exit could be quite expensive (Minimum - 30%) --> Watch your sizing!
Entry:
Option A: On the third impulse down in the reload zone between the 0,618 and the 0,786 Fib. First buy order is set at around 1.060 Sats.
Option B: Wait for the brake out and the confirmation through a potential retest of the upper trend line.
Option C: Scale in on both options.
Exit:
Bullish:
- A measured move price target from a potential brake out point at 1.320 Sats would mean a 250% move from my first buy order at 1.060 Sats.
Bearish:
- In case of a bearish turn, my Stop-Loss would be at a clear brake of the second impulse down at around 750 Sats.
Enjoy and never forget: NO FINANCIAL ADVISE! :*
LRCBTC
As the alt coin season continues and BTC dominance shrinks a lot of alt coins are showing promising patterns. Loopring ( LRC ) is another juicy mid cap alt that has the chance to go for a nice 200%-250% move, when the money flow slowly starts to enter the mid and low cap alt coins.
Pro:
- Bullish Pattern is forming quite clearly
- Volume on the third impulse up shows that buyers are coming in
- Good possible entry points
- Potential Risk/Reward Ratio = 9
Contra:
- Due to the low market cap, a potential exit could be quite expensive (Minimum - 30%) --> Watch your sizing!
Entry:
Option A: On the third impulse down in the reload zone between the 0,618 and the 0,786 Fib. First buy order is set at around 1.060 Sats.
Option B: Wait for the brake out and the confirmation through a potential retest of the upper trend line.
Option C: Scale in on both options.
Exit:
Bullish:
- A measured move price target from a potential brake out point at 1.320 Sats would mean a 250% move from my first buy order at 1.060 Sats.
Bearish:
- In case of a bearish turn, my Stop-Loss would be at a clear brake of the second impulse down at around 750 Sats.
Enjoy and never forget: NO FINANCIAL ADVISE! :*
LRCBTC