Hidden trap for Litecoinerz
Currently price action seems to repeat textbook wyckoff range accumulation structure. Price seem at range high , but not just typical range high , but major range resistance previous bull support range. Usually what we want to see here whethere is this a deviation or a break to a new higher range.
2 probabilities here
1. Price rejected range high, confirmation. Entry after confirm . Target sell at mid range 50% and low range 50%
2. Price break range high and confirm with higher high n lower high. I cut loss and wait for price to settle at new range high.
In coming 3 months , we are heading into key decision moment whether fed gonna pause hiking rates or not. Tbh i dont think fed going to pause very soon when inflation is sticky, powell mentioned before he's going to ensure inflation rate back to 2% while currently we are at 4.9%. We are still far away for powell target to 2% , they have been printed twice the amount of money starting in 2020 and we expect fed to stop hike this year? Most proabably not , but i might be wrong. Now im putting my money where my mouth is.
Share ur thoughts.
2 probabilities here
1. Price rejected range high, confirmation. Entry after confirm . Target sell at mid range 50% and low range 50%
2. Price break range high and confirm with higher high n lower high. I cut loss and wait for price to settle at new range high.
In coming 3 months , we are heading into key decision moment whether fed gonna pause hiking rates or not. Tbh i dont think fed going to pause very soon when inflation is sticky, powell mentioned before he's going to ensure inflation rate back to 2% while currently we are at 4.9%. We are still far away for powell target to 2% , they have been printed twice the amount of money starting in 2020 and we expect fed to stop hike this year? Most proabably not , but i might be wrong. Now im putting my money where my mouth is.
Share ur thoughts.