jpfortin

LTC Getting ready for pushing through $80 USD

COINBASE:LTCUSD   Litecoin / Đô la Mỹ

Readjusting to "History Repeating itself" - Why?

1 - The volume is about 4 times the average (we have fuel!) than during consolidation (200K)
2 - RSI is similar to the previous spike in Sept!
3 - Timeframe similar so target of $82 to be reached by 10/17
4 - BTC             has more demand (buy) than supply (sell) as storm is passing: LTC has the reversed - calm before the storm.

It is quite possible to reach near $100 this week if volume increases by 2 fold (around 1.6M) from its current level. Also, LTC is a favorite of China and will lift ban on 10/19 so we may have a double burst and could hit $160...

I am expecting a pull back between 10/17 and 10/19 before the second burst (whales will make room for new entries from China...) so I am positioning 50% of my holdings on this dip selling @ $100 and buy @ $75. If you go long, I recommend to buy now and to hold until the peak of 10/19 then sell all to buy again around the $65-70 support.

I will clean up my TA this week as we get closer to this reality.

PS - I am realizing that long term projections are difficult with crypto because of so many untraditional variables & news, so I think we should have a flexible plan in the short time to be revamped every 8 to 12 hours.

Lastly, LTC behavior is distancing itself from BTC: our little baby has grown up to be its own master!

Cheers
Bình luận: the date of the second burst may be sooner than 10/19 - but 10/18. Cheers
Bình luận: Scratch LTC being its own master. It looks like at a given volume, all main cryptos (BTC, ETH, LTC) behave the same. Right now they are acting like triplets.
Bình luận: Well - many confusing news (and speakers) today. 1 hr on LTC showing sideways with RSI at 50, MACD is flat, volume is only 2x the past trend (400K). We are stuck around 65 until new markets play in (Asian, Europe) - this US market is FUD!

Cancelled all my sell orders and will hold until we push through 70. If volume reaches 1M then will sell 50% at $75 and wait for a rebound to $65 then buy. After will wait for the next target at $82.

Play safe!
Bình luận: Bought at $63.5 on the pull back. Reaching for 72-78 now.
Đóng lệnh: đạt mục tiêu: bought at $59.75. Holding to sell at $72

Ý tưởng liên quan

What do you think - buy now at $62-$63 or do you think it goes under $60?
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jpfortin HBsurfer71
@HBsurfer71, I only post my ideas and do not specifically provide recommendations as our risks aversion are all different. However, would I risk an opportunity to gain $6-$8 at the expense on a couple of dollars... that is between you and your trade.
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HBsurfer71 jpfortin
@jpfortin, Feeling you on the few dollars saved vs. many that can be earned.
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Do you have the sources about China lifting the ban? If you don't, I'll just Google it later. Thanks! =)
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@jpfortin, I wasn't questioning your honesty; just wanted a good article on it so I didn't have to search on Google. I've heard about this last week but did not bother to look into it. However... I don't trust it as the Chinese can decide to postpone the decision, of course. Naturally, anything can happen. Won't base my trade on the news articles but it's interesting!

The China scare last month was just an excuse for a correction as whales quietly accumulated more coins. Now they are off to PUMPing BTC and other big coins.

I'm all in on XRP. Whales better PUMP Ripple or I am going to be very upset!!

Dr. Ben Bernanke, Sir Tim Berners-Lee and Vitalik Buterin will be speaking at SWELL.
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jpfortin mightytrader
@mightytrader, no worries - not relying on use entirely just being aware of one of the biggest crypto market that may be playing with us again.
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@jpfortin, It's always playing with us. Just set your SL's and stick to USD pairs; that's what I do. =)
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@jpfortin, *typo: I mean to write, $WELL conference ;)
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An0nym0us jpfortin
@jpfortin, government moves slowly so "after the 18th" might mean sometime next year.
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