ridethepig
Long

ridethepig | LTC Market Commentary 2020.14.01

COINBASE:LTCUSD   Litecoin / U.S. Dollar
It is well known that all major Cryptos are breaking out and conducting very credible momentum flows with helpful sizings. One of the most important requisites of swing trading for those Crypto traders is the ability to squeeze your opponent with momentum breaks. The breakout is much more the game changer and should in no way be compared to stale bids from the retrace leg.

So we have the following picture:


Bulls were heading for the breakout and at the same time protecting the lows against penetration by sellers....


Here too Bulls choose the breakout, and resolve the range so that it can become a bit more enterprising. Let us take a good look at BTC before and after CME . Sellers are half dead and with little on the calendar to support any retrace, buyers are securing the superiority in the region:


So, after getting rid of the "weeds" and shaking out soft hands, all major Crypto buyers are achieving progress in areas which are strategically important for the mid and long term.

Good luck all those holding LTC from the initial 42 and 40 entries, you can now sit tight and see how this plays out. As usual thanks so much for all the support with likes, comments, questions, charts and etc. Hope it helps.

Comments

What ABC correction do you know if that’s a 5, 5, pattern.

ABC is 5,3,5.

This is garbage TA
Reply
Nice! Always very detailed & explanatory. I hit this one yesterday, thoughts?
Reply
ridethepig monetae_anon
A superb call @monetae_anon
Reply
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