There is a significant selling volume for LTC between the $71-$72 range, necessitating substantial capital to surpass this level. I strongly advise against initiating an entry around $70.86, as this price point represents an order block with considerable volume. Currently, the price is fluctuating without sufficient market liquidity.
It is prudent to avoid entering at this juncture due to the substantial selling pressure between $71-$72. Should this resistance be overcome, a Break of Structure (BOS) would likely occur, followed by an Inducement (IDM) that is currently pending on the daily timeframe. Only after these events could we anticipate a move towards the $80 level.
Therefore, disregard any assertions that LTC will reach $100 or even $80 in the near future. Achieving such price targets requires significant volume, which is presently scarce. Please exercise caution to avoid potential losses. I intend to dollar-cost average into the two pending order flows, as they were major contributors to the resistance observed this week. Trade responsibly. I have also shared my entry points.
It is prudent to avoid entering at this juncture due to the substantial selling pressure between $71-$72. Should this resistance be overcome, a Break of Structure (BOS) would likely occur, followed by an Inducement (IDM) that is currently pending on the daily timeframe. Only after these events could we anticipate a move towards the $80 level.
Therefore, disregard any assertions that LTC will reach $100 or even $80 in the near future. Achieving such price targets requires significant volume, which is presently scarce. Please exercise caution to avoid potential losses. I intend to dollar-cost average into the two pending order flows, as they were major contributors to the resistance observed this week. Trade responsibly. I have also shared my entry points.