Hi first post here..
I have been following post and chatroom for over a month now...very educational with a lot of tips and tricks. Thank you all.
Bought my first LTC about 2 months ago...got 4 now...learning technicals.
I am a graphic/motion designer and after looking at the charts for days and hours, I have overlaid a 4h time frame BTCUSD and LTCEUR charts. Result is below
drive.google.co...TdVHXuWM9_/view?usp=sharin...
I am not assuming anything, just trying to lay out foundations for my strategy.
Before february, I see LTC following BTC. All the indicators such as RSI, Stochatics, MACD show that the pair is in sync.
Right at the beginning of February, I see LTC breaking out with a lot of momemtum and breaking away from BTC. Is LTC(hoping!) taking over BTC.
In fundamental, one big difference for me between BTC and LTC is that BTC is still anonymous while LTC has a kind of public figure (Charlie Lee) which will be important to gain mainstream's trust.
At the same time, its volume flying away from BTC's volume. Since then, it seems there is a struggle between the 2. And if i read the candle correctly, sometimes LTC was leading the price action and moving before BTC until few candles ago.
Little by little, CCI and TSI slowly separate and seem to try to synchronize again. BTC went on the overbought side and LTC on the oversold side(i do not get that btw since both price were rising).
If I am right, at the same time also, Europeans and the US were struggling. One was buying while the other selling and vice versa(i still don understand that)
Now in the charts, I presume that BTC and LTC price are also trying to realign.
Does that mean LTC took way more value than BTC since beginning of Febraury and that now both currencies would go in the direction where they would be in-sync the way they were before February?
Can anyone give me a confirmation or correct this analysis.
I appreciate your time
Thank you
This post is a trade setup or an attempt to predict future price movements
I have been following post and chatroom for over a month now...very educational with a lot of tips and tricks. Thank you all.
Bought my first LTC about 2 months ago...got 4 now...learning technicals.
I am a graphic/motion designer and after looking at the charts for days and hours, I have overlaid a 4h time frame BTCUSD and LTCEUR charts. Result is below
drive.google.co...TdVHXuWM9_/view?usp=sharin...
I am not assuming anything, just trying to lay out foundations for my strategy.
Before february, I see LTC following BTC. All the indicators such as RSI, Stochatics, MACD show that the pair is in sync.
Right at the beginning of February, I see LTC breaking out with a lot of momemtum and breaking away from BTC. Is LTC(hoping!) taking over BTC.
In fundamental, one big difference for me between BTC and LTC is that BTC is still anonymous while LTC has a kind of public figure (Charlie Lee) which will be important to gain mainstream's trust.
At the same time, its volume flying away from BTC's volume. Since then, it seems there is a struggle between the 2. And if i read the candle correctly, sometimes LTC was leading the price action and moving before BTC until few candles ago.
Little by little, CCI and TSI slowly separate and seem to try to synchronize again. BTC went on the overbought side and LTC on the oversold side(i do not get that btw since both price were rising).
If I am right, at the same time also, Europeans and the US were struggling. One was buying while the other selling and vice versa(i still don understand that)
Now in the charts, I presume that BTC and LTC price are also trying to realign.
Does that mean LTC took way more value than BTC since beginning of Febraury and that now both currencies would go in the direction where they would be in-sync the way they were before February?
Can anyone give me a confirmation or correct this analysis.
I appreciate your time
Thank you
This post is a trade setup or an attempt to predict future price movements