/biz/ - Business & Finance

>>14842158

>LPTX
Short term (meaning on the 1h-4h charts).
I think i'll use the 4h chart for this, it's showing the best data for the short-ish term.
Let me preface this with some things i've observed.
>The distribution slope shape is still descending on the WEEKLY
>The distribution slope shape is tightening every so slightly on the DAILY

This is kind of indicative of bearish sentiment, which suggests to me that a mean reversion on the DAILY and POSSIBLY WEEKLY will be rejected or flatten out and we'll see some short term (days) sideways action until participants figure out whether or not to push it higher.

1. After seemingly being in no mans land for a while, I guess participants found opportunity to be had in pushing the price through the 1.25 lower multiplier (containment zone) on the 4H CHART (bottom left)

2. And considering we're in no mans land, that means NO GUIDANCE and UNCERTAINTY PREVAILS! Which really only means one thing, prices are likely to revert to the mean, and they did, or atleast attempted to. Only really being stopped by the presence of the higher time frame WEEKLY LOWER 1.25 which violently stopped any further travel to the mean. You can also look at the 1H CHART, as prices failed to hold the 2.2 upper benchmark to indicate short term bullishness. The failure to hold that and the presence of the WEEKLY LOWER 1.25 caused the 4H MEAN REVERSION TO FAIL and ultimately fall back down.

3. Well, how far will prices go down now then? The price firstly will try and be 'CONTAINED' in the 4H chart, there's no other LOCAL SUPPORT around on the Daily and Weekly charts. To confirm, we look at the 1H chart and see that indeed, price has STOPPED at the 4H LOWER 1.25, and never even breached the 1H LOWER 2.2 which would have indicated bearish sentiment. Good news for us, it means that price is then headed back to the mean.