LTC We can confirm a “W” bottom

The price have broken the resistance level-144

评论: 142.5 is entry price
评论: So much complicate,the chart stop updating,at least you can take 15% profit
评论: First target meet
评论: I take all profit now 215
not the right idea

The first depression is in the same place as the second one
Revolving model W - This model is formed after a downtrend (downward trend). A distinctive feature of this model is the location of the valleys (local minimum prices): the first depression is lower than the second. This arrangement suggests that the trend has weakened and can no longer support the price drop.
@monsRUS, but it did
Is this analysis still valid? Thank you! :)
You forgot the Part about retesting the resistence..We dip..then go back up to short term target of $180 where we channel up and down for a while before heading further up.
+1 回复
I don't know How long have you being trading, I'm new at this but I can see that the market is in a downtrend and you are telling people to go long?
laowu vargastito77
@vargastito77, yeah i got the same feeling too
JayJawsChen vargastito77
@vargastito77, buy when people are scared basics
Also, Isn't 175 the key resistance that needs to be broke to confirm this is a W or double bottom reversal?
alexhiggins732 alexhiggins732
@alexhiggins732, Double bottom reversal: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:double_bottom_reversal

Looks like we are on our way but haven't confirmed a reversal until we break the high between the two troughs.
HJQI alexhiggins732
@alexhiggins732, for the volume,80% is a good w bottom
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