Readjusting to "History Repeating itself" - Why?
1 - The is about 4 times the average (we have fuel!) than during consolidation (200K)
2 - 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 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!
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.
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.