Don't Lose Sight of the Bigger Picture

Something that brought a smile to my face today, seeing all these “Top Contributors” who pump out long-term predictions and price targets on the daily, yet nothing has changed in terms of our current price structure. I’ve been telling y’all for a few months now, we’re in a descending channel. For the bulls, I wouldn’t get excited till that breaks to the upside. Furthermore, if you look back at my previous updates, we discussed that a retest of LTS-2 was a possibility, and at this time it looks like that's where we are headed. If you're a day trader, I get it, the small, incremental changes matter, but for most, the long-term holders, it's best to analyze weekly or monthly bars, and look for the larger patterns.

For now, if you’re long, you should be watching the current descending channel, and LTS-2.

Happy trading.