We were right to be cautious and not ape into the false breakout.
Do you remember our last video reiterating the need for LDO to deliver a strong weekly close above that key $2.50 resistance level? Turns out we were right.
The weekly candle didn't have enough juice behind it. And with BTC and the overall market still fighting resistance, jumping into Lido longs would have been asking for trouble. 👎
And as we anticipated, it wicked right back down into that zone where it's struggled before.
But not all hope is lost. In fact, we now have a nice potential long setup shaping up if this retrace holds. We just need to see some chillin' and consolidation around this demand area before another push-up. Fingers crossed! 🤞
So patience pays, as always. Don't rush into trades based on lower timeframes when the daily and weekly are waving red flags. You’ve got to respect those higher timeframes. The 4H and 15M can fake you out if you're not careful.
Let the price come back to you! 🧘♂️ We'll get 'em next time. Lido's still a favourite. 😍
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