Those pin bars and hints of buyers rejecting lower prices is pretty awesome in a recovery point of view. Of course, we have laid emphasis on numerous occasions on how significant $100 or the 78.6% Fibonacci level is.
The thing is, we cannot put all our bets and go long because of this. It will be prudent of us if wait for better signal and that means a close above the 61.8% Fibonacci retracement or $170 to the upside.
Before that happens, LTC needs to weather potential sell pressure at the liquidating middle BB and of course $170 itself.
Otherwise, any surge of any form below $100 and the dice is cast for LTC. In that case, prices might crash at $50 for a 100% recovery of November-January gains.
