LRC Channeling (sort of)
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I've attempted to read LRC last week, and kind of succeeded.
Drawing an ascending channel from January 21st, LRC has reached the top of it. Coincidentally the price is in the Golden Pocket of the Fibonacci Retracement taken from the high of January 19th to the low of January 22nd.
If there is a decisive brake down from the Golden Pocket, I expect LRC heading towards the 0.5 (~ 0.9462) Fibonacci Retracement level. Ideally that'll happen at the intersection of the Ascending Channel center line and 0.5 Fib retracement level.
Two notable points of interest on the chart are:
#1 The beginning of Daily Support channel, tested a few times since February 2021. Ranging from 0.91 to 0.7475
#2 Hourly Support since January 21st 2022. Ranging from 0.8716 to 0.8680
Support lines come into play if LRC reaches and breaks through 0.5 Fibonacci Retracement level.
Target 1 = 0.5 Fib Retracement (~ 0.9462)
When in trade I keep to a strict Risk Management plan and keep an eye on BTC
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
LRCUSDT
LRCUSDT
LRCUSD
Drawing an ascending channel from January 21st, LRC has reached the top of it. Coincidentally the price is in the Golden Pocket of the Fibonacci Retracement taken from the high of January 19th to the low of January 22nd.
If there is a decisive brake down from the Golden Pocket, I expect LRC heading towards the 0.5 (~ 0.9462) Fibonacci Retracement level. Ideally that'll happen at the intersection of the Ascending Channel center line and 0.5 Fib retracement level.
Two notable points of interest on the chart are:
#1 The beginning of Daily Support channel, tested a few times since February 2021. Ranging from 0.91 to 0.7475
#2 Hourly Support since January 21st 2022. Ranging from 0.8716 to 0.8680
Support lines come into play if LRC reaches and breaks through 0.5 Fibonacci Retracement level.
Target 1 = 0.5 Fib Retracement (~ 0.9462)
When in trade I keep to a strict Risk Management plan and keep an eye on BTC
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
LRCUSDTLRCUSDTLRCUSD注释
Target reached
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