From a charting point of view (excluding news that's bullish or...

From a charting point of view (excluding news that's bullish or bearish)



Recent price action has broken out of descending channel which began after the highs of JAN 2021 and ended mid JUL.

- Market structure is showing Bullish continuation with Higher Highs and Higher Lows which began mid-July.
- Uptrend Trendline has been respected now 4 times which IMO makes it beyond valid.
- Daily Equilibrium at 0.018 (now Support) has been held which also aligns with Fib Retracement 0.618.
- Fibonacci Retracement of the most recent rally from 0.014-0.024 sows us a Golden Ratio bounce (Bullish) off the 0.618 Level.
- Trend Based Fib Extension targets from 0.014-0.024-0.018 prints fib target levels 0.618 (most recent high 0.024) as achievable and also 1 (0.028) as achievable.
- Measure Move Target (Flagpole - although not a flag) at point of pattern break prints 0.028 as Target (which is also showing confluence with Trend Based Fib Extension).
- RSI Indicator has been trending nicely beginning in JUN and has again respected its uptrend (most recently yesterday). Also, note that RSI rejected off the 50.00 level which can also be taken as a Bullish Rejection.
- MACD Bearish histogram is weakening with Bullish Volume beginning to come in and I am anticipating a cross upcoming.

All in all, I see a continuation towards 0.024 as the first major Resistance to overcome but if the price breaks 0.024 then I am looking at 0.028 immediately.

Do not mistake me as a day trader or shilling a position as I have held my pos on LPD for +5y. I've seen the Good, the Bad, and the Ugly BUT I am still riding the waves and do believe the year of the Platypus is soon upon us.

GLTAH

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