LRC has just hit all three Levels
There is a reason we spoke about LRC back on November 2. HERE
After the 2-day pullback – LRC has moved to a peak gain of 263%, tapping all three levels in the process! Now, there is still more to look at here as the trend is indeed strong and all of the Price Discovery levels have been it so far.
For the Trend Traders out there, ride the trend until the trend is no more. That will allow you to hold onto a Winning Trade longer but know that you will never sell the Top.
Other Traders may be looking for another play – and for that we may have something in mind.
There is a chance we see some heavy selling for LRC. Of course, there is also the chance this thing takes off and puts in a 5000% candle…
In all seriousness, when something accelerates like this, it will generally cool off. look at SAND and MANA for some examples. That being said, the asset only leaves behind breadcrumbs of what may act as support. If the price is to fall and LRC is to cool off – these are the levels we will be focused on. If we do pullback – then we adjust our new price action to the potential of new Price Discovery and we look to see if there is any pattern developing (bull flag/pennant, etc), and using that information we can set some potential areas for resistance.
Bitcoin just hit $69,000!
$69,000 for the “Ponzi Scheme”! Not bad at all. That 10,000 Bitcoin Pizza is now equivalent to $690,000,000. Who would have thought that! We remain patient with Bitcoin and look to the larger levels we have set in Price Discovery. If the trend fails, that is a different story altogether but as of now, the trend is strong and we continue to make Higher Highs and Higher Lows.
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