4xForecaster

#LTCBTC Chart: Channel Interplays | #LTC #BTC #litecoin #bitcoin

BTCE:LTCBTC   Litecoin / Bitcoin
467 8 5
#LTCBTC Chart: Channel Interplays | #LTC #BTC #litecoin #bitcoin


Traders,

Worth looking at momental lines (i.e.: S/R lines that maintain a similar slope, or rate of price velocity across the chart - For instance, the blue line is able to maintain a parallel relevance at different points throughout the charts, thus defining a channel).

The difference I draw between a channel and a momental line, is that a channel has a well defined upper and lower boundary which gains relevance only at a particularly narrowly defined segment of the entire price field, whereas a momental line becomes a "signature pace" of price, defining the typical slope at which price develops anywhere in the chart - for instance, the RED line maintains a relevance relative to price across the entire chart, regardless of the underlying fundamentals and technical context in which price develops.

In any case, for the time being, the BLUE line remains in control of the pace, ever since November 18th. Consider the flatter the angle of the slope being positively correlated with the strength of support/resistance of that line. Therefore, in this example, a failure of the BLUE line would confer greater supportive strength to the BLACK support line relative to the YELLOW line.

Conversely, the RED line has imposed the greatest overhead resistance since the first week of December 2013, and a resistance from this same line remains in force, followed by the BLACK overhead line, which is likely to confer more resistance compared to the YELLOW overhead resistance line.

In essence, the steeper the slope of the line, the shorter its influence on price overtime.

Have a great weekend,

Cheers!


David Alcindor | 4xQuad.com
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: admin@KADAInstitute.com
All updates on https://twitter.com/4xForecaster
excellent explanation of the analysis technique. thx!
Reply
B10ckLanders ronfkingswanson
2 years ago
^ insightful!! much appreciated!!
Reply
Thank you for the kind feedback.

Addressing @Flibbr's comment and link whose content objects to establishing any analysis between LTC vs. BTC on the basis that the transactions conclude in USD, the analytical point of a chart pitting one currency against another, or any priceable item against another, has everything to do with the net aggregate interest of the global market whose interest constantly moves from one valuable "vehicle" to another.

In defining the strength of one priced element gaining value relative to another price element, both the chartist, analyst and trader should be especially careful to look at the subtle strength which one currency might gain against another, regardless of the denomination in which it is transacted, as long as they are comparable.

In any case, that link is bizarre and disingenuous, if only for the mathematics of it. If one should not compare LTC vs. BTC in the expression of LTC:BTC, which expresses the relative strength of one against the other, only because the end result of their respective transaction ends up in USD, shows that the author of the link forgot his basic algebraic fact, which is that:

Given: LTC vs. BTC

= LTC:BTC

= LTC/BTC

= USD/USD x LTC/BTC

= LTCUSD x 1/(BTCUSD)

= LTCUSD / BTCUSD

= Litecoin:Bitcoin

= LTC:BTC

Hence, the implication of the relative value of the dollar is already implied within the relative strength of the chart, so the argument that LTC/BTC chart is "moronic" because each have to be transacted in USD ignores the fact the distributive property of the USD is already applied to the chart itself.

I hope this makes sense and that the author of the linked comment will rethink his algebraic non-sense.

Cheers,


David Alcindor | 4xQuad.com
Reply
ronfkingswanson PRO 4xForecaster
2 years ago
THIS! x1000
Reply
B10ckLanders ronfkingswanson
2 years ago
^
Reply
flibbr PRO 4xForecaster
2 years ago
Yes, but your forgetting LTC has no real reason to live. To quote myself from another post;
-------------

Reply
flibbr PRO flibbr
2 years ago
I think this pump died quick because the noob money which recently entered the market is realising, 'Why is LTC going up ? What news in the LTC sphere ?' ~ which is; nothing. I feel as people begin to realise more and more, that LTC has no reason to live... it will continue to die off (LTC/BTC ratio), stagnating, back down to $9 (china also over).. until the next BTC craze wave when loads of newb money re-flows back into alts people hoping for the poor mans btc to carry them to heaven. . . Just my theory based on repeating previous cycles.
Reply
ronfkingswanson PRO flibbr
2 years ago
my theory for the #3 pump failure.
third pump period fails to take off, then drops through support
Whales set up recognizable rally pattern, buyers eager to "know" the next one are happy to repeat, but whales exit with fiat before the final curtain is lifted.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out