The "lite" at the end of the tunnel

BITFINEX:LTCBTC   Litecoin / Bitcoin
5456 45 49
Analysis to follow
Bình luận: Price/fundamental analysis

Weekly chart—rsi coiling up StochRSI ready to go which has been an amazing indicator for ltc/btc weekly chart

To me this looks like a WXY correction for wave 2. The price has respected the .786 fib retracement level of this first bull rally. Another low to .006 or so is still possible but seems unlikely to me. Is this really just a wave 1 and 2? I think so. Wave 2’s usually retrace very deep as the market thinks the previous trend is still in tact and the rally is just a dead cat bounce, which sets things up for the monster Wave 3. Wave 2’s typically retrace around 50-70% of wave 1, so that pretty much fits here.

Fundamentals (most important)
In an earlier chart I forget which one I mentioned that these bitcoin forks could actually be the greatest thing that’s ever happened to litecoin, but that the market would initially interpret this as a bad thing. I mean, on the surface it makes sense, more competition for ltc. But when you think more deeply about it the real picture emerges. These bitcoin forks are a poor mans litecoin by pretty much every metric. Yet the market seems to have the attitude of “we’ll give them an A to start the semester, but its theirs to lose”. They will lose it. Bcash is a joke, why on earth would anyone want to use a coin for payments with wildly fluctuating block times and totally unreliability. Hmm do I want to pay off miners to steal from bitcoin security? Or do I want to use litecoin? I think I’ll use litecoin. Segwit2X is a complete joke as well, if bcash is miner coin, S2X is corporate coin. It’s a glorified paypal designed to remove core developer control from bitcoin and change the way we make changes to bitcoin. The most underrated feature (not bug) of bitcoin is that its digital gold and very hard to change. It will be fun to watch in real time in the coming months as these forkers learn what Charlie Lee realized in 2011: if you are going to fork bitcoin, you make a compliment (not competitor) that does not depend on the need to steal miners from h9oney badger bitcoin in order to succeed.

The future has never been brighter, big things on the horizon. RSK, MAST, Confidential Transactions, THE LIGHTNING NETWORK. Its all coming to bitcoin, I look forward to the mutually beneficial scaling that will occur via bitcoin and litecoin.

Litecoin had a few bad years as newer and flashier alts stole the thunder, those days are over and that equation will soon reverse. All the ICO money, ETH money, scam money, will flow into legitimate coins that have bright future like XMR and LTC. If ETH peaked at 80% of bitcoins market cap, is there any reason ltc or xmr can not get 30-50%? More? Sure they can.

Litecoin is love, litecoin is life, litecoin liberty : ) Litecoin is money. Got lite?

Disclosure: I am not a financial advisor and could be very well be wrong. Do your own research and own your decisions/trades/investments.
Bình luận: Looking good, could get some cool down in the ratio as bitcoin takes off here. But the fact that LTC/USD was able to break through resistance is a very good sign.
Bình luận: Segwit2x cancelled what more do u need to know? MOON coming
Bình luận: Nice pump. This is the count i'm building right now...keep in mind im not really trading this stuff much now, just trying to get a hold of the market. Occasionally I do here and there, but ltc is just a long term buy at these prices IMO
Bình luận: Looks like she might be ready to blow:
Bình luận:
Bình luận: Looking for a nice pop on the death of bcash. Here are two targets (conservative and aggressive):
Bình luận: In terms of the EW count...this might make more sense:
Bình luận: Hey guys, lots of people asking for an update, ns what to tell you. Price has been going sideways for a few days haha, not much to say. Still expecting a pop, if we start to drift below .0085 or so for any meaningful period of time than I'm probably wrong...
Bình luận: Looking good, bounced off the 50 fib retracement level nicely. And now it looks like a nice inverse head and shoulders if forming:
Bình luận: Looking good, I noticed a possible fractal. It looks like this little miniature 1-2 is a fractal of the larger 1-2 which tends to happen:
Bình luận: Welp, unfortunately not looking good for ltc in the short term, heading to orange could hold but if not we are probably going all the way to the black line:
Bình luận: There's still hope but have to see ltc/usd get back above $100 and get going...
Bình luận: LTC/USD showing healthy signs of clawing its way back above $100. Cmon little chikun you can do it! : )
Bình luận: Some potential bullish divergence forming on the daily rsi...not out of the woods but so far looking good:
Bình luận: ...looks like we[re heading to the black line...
Bình luận: Bouncing nicely off the black line, and bull divs, good chance she's ready to go:

Bình luận: Whoah our little chikuns growing up. Just updating the EW count:
Bình luận: Bitcoin spam attackin in full force...which means bcash pump and dump probably coming, which means ltc will prob cool down. But the low is in IMO...
Bình luận: It wasn't smooth sailing but eventually we got there : )
Bình luận: Potential correction here if it can't break the strong overhead resistance:
Bình luận: This ascending triangle cup and handle thingy on the 4h (right side) says to me we probably still have more up to go for wave 1:
Bình luận: If the lows hold here...still expecting the rally to .03 or so
Bình luận:
Would now be a good time to start accumulating?
Phản hồi
Any updates? I think the correction might still come, what are your thoughts on this?
Phản hồi
Been following this. Maybe this can push us past this overhead resistance
+1 Phản hồi
btc_joe PRO the_hitman
@the_hitman, nice chart, it does look like another bull flag. I would like to see it break the local high and get back above .0175, then I think there's real good shot at another leg up.
Phản hồi
@btc_joe, If not, looking at somethign like this:
Phản hồi
@btc_joe, agreed. I'm not going bullish until we break overhead resistance across most exchanges and retest. That line has been so strong for so long I want to see confirmation first. Fine missing out on some interim profits for a better position.
+1 Phản hồi
What do you think about this RSI breakout? It broke out pretty high, what could that mean?
Phản hồi
btc_joe PRO ecc81281
@ecc81281, I think it looks real likely the bottom is in on the ltc/btc ratio, and either things just go wild or we cool down in this general area for a bit to recharge the batteries. So probably either one more high and a cool down or this just blasts off and doesn't look back, IMO its not worth trading much at this point, I think much bigger things are coming over the next year or two.
+1 Phản hồi
Like the Update.

Comparing the 7d chart with top 10 market cap coins, LTC looks very solid, and has shrugged off the BTC rally for the most part. Looks like LTC may soon replicate the bounce we've seen on XRP just now.
Phản hồi
zsri zsri
@zsri, Also about to bounce the 50MA
Phản hồi
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