LTC: Sign of Strength Still Underway to $141 and $174 Range
Hi Everyone! Appears we are still working on our "Sign of Strength" event in Phase D of Accumulation. We can go up to $135 quite easily in the 6-Week time frame; which see below:
6-Week Time Frame:
RED TEXT BUBBLE:
Red Line is above level 50 to trigger upward pressure in this 6-Week time frame.
This upward pressure will last until the White Energy falls down to Level 58.
Why did I not say, "upward pressure continues until white energy falls to level 50?
That's because our White Energy went up to level 116. Which means we should
half 116 to get 58. Upward pressure continues until white energy falls to level 58.
Since the Red Line is at Yellow Level 50, it's telling us the current fair market value
is currently just above the Yellow B-Band Basis; which is currently at $134.07. So,
we can see $134.07 quite easily over the next 25 days remaining in the current
6-Week candle. The White Energy still has a long way to fall down to Level 58.
Here's a look at the White Upper B-Band in the 4-Week and 5-Week time frames. These are the two time frames suggesting we could go up to a range somewhere between $141. xx and $174. xx
This is NOT a short term analysis. This is not necessarily a Near Term analysis either. This is more like a Mid Term Analysis for the next 25 Days remaining in the 4-Week and 6-Week time frames. Of course, the 6-Week shows us going up to the Yellow B-Band Basis around $135 quite easily. Should you consider taking some profits off the table at $135 price point? Sure... While letting the rest ride up to potentially somewhere between $141 and $174.
I hope this was helpful. Please take a moment to click the rocket icon in the bottom right just below the chart publication. This helps my ideas move up in the que of crypto ideas.
Thank you very much for your valuable time!
Stay Awesome!
David
6-Week Time Frame:
RED TEXT BUBBLE:
Red Line is above level 50 to trigger upward pressure in this 6-Week time frame.
This upward pressure will last until the White Energy falls down to Level 58.
Why did I not say, "upward pressure continues until white energy falls to level 50?
That's because our White Energy went up to level 116. Which means we should
half 116 to get 58. Upward pressure continues until white energy falls to level 58.
Since the Red Line is at Yellow Level 50, it's telling us the current fair market value
is currently just above the Yellow B-Band Basis; which is currently at $134.07. So,
we can see $134.07 quite easily over the next 25 days remaining in the current
6-Week candle. The White Energy still has a long way to fall down to Level 58.
Here's a look at the White Upper B-Band in the 4-Week and 5-Week time frames. These are the two time frames suggesting we could go up to a range somewhere between $141. xx and $174. xx
This is NOT a short term analysis. This is not necessarily a Near Term analysis either. This is more like a Mid Term Analysis for the next 25 Days remaining in the 4-Week and 6-Week time frames. Of course, the 6-Week shows us going up to the Yellow B-Band Basis around $135 quite easily. Should you consider taking some profits off the table at $135 price point? Sure... While letting the rest ride up to potentially somewhere between $141 and $174.
I hope this was helpful. Please take a moment to click the rocket icon in the bottom right just below the chart publication. This helps my ideas move up in the que of crypto ideas.
Thank you very much for your valuable time!
Stay Awesome!
David
Comment:
UPDATE:
I've been super busy working on swing signals strategy script; as well as 2022 annual taxes. I just applied the "Swing Signals Strategy" to LTCUSDT PERP to see I would have had a Short Swing Signal the next day (March 2, 2023) after posting this publication on March 1, 2023. Let this be a lesson to everyone that "market conditions can change." We must be ready to change with it. However, it's helpful to have a working strategy to identify potential reversals like this.
I've been super busy working on swing signals strategy script; as well as 2022 annual taxes. I just applied the "Swing Signals Strategy" to LTCUSDT PERP to see I would have had a Short Swing Signal the next day (March 2, 2023) after posting this publication on March 1, 2023. Let this be a lesson to everyone that "market conditions can change." We must be ready to change with it. However, it's helpful to have a working strategy to identify potential reversals like this.
Comment:
UPDATE:
I'm going to copy and paste "here" what I wrote to others on another platform:
QUOTE:
No close signal on FTM yet. I'm still working on taxes. I "must" get my information for my accountant completed tonight to give to him tomorrow (Friday). It's a "must!" As for an update on LTC; I'm sorry, but that would have to wait. I "must" continue work on taxes. I honestly was not providing signals for LTC. I simply provided my opinion of what I saw [In regard to "potential targets" if the market were to resume upward pressure after ranging sideways. Of course this was not the case. We began turning down after ranging sideways. Market conditions can change! Plain and simple. This is "why" I prefer to allow my swing trend script to provide a signal of a "potential trend" and THEN begin contemplating targets. If I had the swing signals script applied to LTC at that time, we would have had a swing short signal on March 2, 2023 (The next day after I provided that LTC publication). The swing script would still have this short position open for LTC to the time of this writing.
When I provided my opinion of potential targets for LTC, I was using the Red Line and Blue Lines within Phoenix Ascending. We should not contemplate targets if the Swing Trend Script has not provided a signal for up or down trend at that time. Did I even have my Swing Script applied to LTC at that time? No, my entire focus was tuning inputs for FTM at that time.
Does my Swing Trend Script use the Red and Blue Lines to determine current trend and if there is no current trend (sideways price action)? No, my Swing Trend Script uses proprietary indicators to make that determination. You will be using the Stochastic RSI built within Phoenix Ascending to accomplish the same thing. However, you will need to tune the inputs for each time frame; just as I have tuned inputs for each time frame with my proprietary indicator.
Once my proprietary indicator and/or your Stochastic RSI built within Phoenix Ascending provide a "signal" of a potential swing trend change; then we will use Red and Blue Lines within Phoenix Ascending to determine potential targets.
Now, I'm getting back to taxes. If the FTM Swing Script provides a signal to close the current position, I'll let you know. If you still have any portion (percentage) of your original short position still open, I would prepare to close the entire remaining position at $0.3133 if it were to push down to that. If it happens to go below that, don't kick yourself. You've done good!
I'm anxious to get these taxes done so I can focus on tuning the swing trend script to other pairs.
Stay Awesome!
Here are the last three (3) short swing signals provided by my swing trend script:
I'm going to copy and paste "here" what I wrote to others on another platform:
QUOTE:
No close signal on FTM yet. I'm still working on taxes. I "must" get my information for my accountant completed tonight to give to him tomorrow (Friday). It's a "must!" As for an update on LTC; I'm sorry, but that would have to wait. I "must" continue work on taxes. I honestly was not providing signals for LTC. I simply provided my opinion of what I saw [In regard to "potential targets" if the market were to resume upward pressure after ranging sideways. Of course this was not the case. We began turning down after ranging sideways. Market conditions can change! Plain and simple. This is "why" I prefer to allow my swing trend script to provide a signal of a "potential trend" and THEN begin contemplating targets. If I had the swing signals script applied to LTC at that time, we would have had a swing short signal on March 2, 2023 (The next day after I provided that LTC publication). The swing script would still have this short position open for LTC to the time of this writing.
When I provided my opinion of potential targets for LTC, I was using the Red Line and Blue Lines within Phoenix Ascending. We should not contemplate targets if the Swing Trend Script has not provided a signal for up or down trend at that time. Did I even have my Swing Script applied to LTC at that time? No, my entire focus was tuning inputs for FTM at that time.
Does my Swing Trend Script use the Red and Blue Lines to determine current trend and if there is no current trend (sideways price action)? No, my Swing Trend Script uses proprietary indicators to make that determination. You will be using the Stochastic RSI built within Phoenix Ascending to accomplish the same thing. However, you will need to tune the inputs for each time frame; just as I have tuned inputs for each time frame with my proprietary indicator.
Once my proprietary indicator and/or your Stochastic RSI built within Phoenix Ascending provide a "signal" of a potential swing trend change; then we will use Red and Blue Lines within Phoenix Ascending to determine potential targets.
Now, I'm getting back to taxes. If the FTM Swing Script provides a signal to close the current position, I'll let you know. If you still have any portion (percentage) of your original short position still open, I would prepare to close the entire remaining position at $0.3133 if it were to push down to that. If it happens to go below that, don't kick yourself. You've done good!
I'm anxious to get these taxes done so I can focus on tuning the swing trend script to other pairs.
Stay Awesome!
Here are the last three (3) short swing signals provided by my swing trend script:
Comment:
UPDATE:
By the way: Do "not" assume I did not provide "take profit targets" in which to take profit at prices "lower than the closing price signal" for each of those swing short signals on FTM.
By the way: Do "not" assume I did not provide "take profit targets" in which to take profit at prices "lower than the closing price signal" for each of those swing short signals on FTM.
Comment:
UPDATE:
Simply added a Red Text Bubble underneath this FTMUSDT PERP ByBit .
Simply added a Red Text Bubble underneath this FTMUSDT PERP ByBit .
Here is the 14.5 minute private video that I meant to make "public."