LoopRing (LRC/BTC) Could Rise Out of the Triangle
SUMMARY
LoopRing (LRC/BTC) placed five waves of an impulse and is currently in the process of completing the motive. A motive is an impulse plus the requisite retracement waves and thus a fractal. The retracements can occur as an ABC ZigZag, Flat or Triangles. In this case, the triangle is patterned out with the two white lines and the a,b,c,d,e waves plotted. IF this pattern is correct, then the next move is for the price to start impulsing upwards. This also means that the lower white support also needs to hold. IF price breaches the support, a more complex and sideways correction would be expected.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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