LTC key Support Resistance zones: possible one more leg Down

Mapped are key price zones of interest.
Currently under a strong resistance band.
Unless bulls flip it, high risk of another dip.

Drag DOWN on PRICE scale to see outside window.
Drag RIGHT on TIME scale to see more fib/pa history.
Use "Make it Mine" under SHARING for your own copy.
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I do not use "Fibs" in the "traditional" manner (retracements).
I use Fibs to plot "Ripples" (extensions) created by "Impulses".
Then look for "Confluences" to map the "interference Pattern".

My TV collection of ideas detailing the Concepts:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: 'one' Ping only

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Comment:

BTW: the thick Red lines are from this Fib from ATH

(forgot to post that in original description)

And zoomed in to see pa around current red fib

Clearly relevant as it has been for 4 years.

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Comment:

Past the first resistance

Since posting, we have gotten past the immediate resistance

Zoom IN (3min) for a closer look at that resistance

It was acknowledged, broken, and retested.
So firstly we have confirmation of the relevance of those fibs,
and secondly a bullish sign that a recognized resistance was broken in that manner.

Of course, we could just fall thru again, but this is a start.

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Comment:

Next Leg Down in progress?

Market wide sell off continues, and LTC sinking with the tide

Fell thru the red 1.382 at 274.89 and then broke the 1.618.

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Zoom IN (15 min) and notice the "Pings" (exact ricochets) off the Green (small tf) fibs, with the Red (high tf) as the backstops.

Lets see how low the market tide goes, but the next Red fib below 234.78 seems likely to hit.

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Comment:

Oops, forgot to include a 2nd snapshot in last update above.

For the (15 min) Zoom and Pings on Green fibs :

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Comment:

Key Moment

Here we are at the underside of the high tf Red 1.618

Zoomed IN (1 min)

as we tested and just pierced

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Comment:

Another perfect exercise in Fibnastics

As anticipated in last update, we got that next leg down

and quite precisely to the Red 1.764 targetted.

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Zoom IN (15 min) and looking at the wave structure:

Sure looks like a well defined 5-wave Impulse complete.

But ALAS that may have been wave "A" of an ABC correction perhaps like this

Way too early to conclude that, and certainly too early to project a wave B target.

So for now we watch and measure,
try to spot the fib of the bounce wave,
and then try to project a target for wave B.

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Comment:

ABC done?

Per last snapshot, it played out quite precisely

No way to know if that is the bottom yet,
but IF a bottom is somewhere near here,
then THAT is the Perfect spot and shape for it.

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