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Update: Lite Bears vs. Bit Bulls! #litecoin #Bitcoin #LTC #BTC

BTCE:LTCBTC   Litecoin / Bitcoin
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Friends,

A bearish reversal confirmation posted on our ultramodern Apple             McIntosh 128K flickering screen. So, we will simply state that the targets defined on January 25th as primary ("TG-1 = 0.022") and low *"TG-Low = 0.020") appear ever closer and feasible than before. We posted already a bearish commentary on this relative strength chart three days ago (find it here: https://www.tradingview.com/v/57Ly5MK2/).


OVERALL:
The outlook remains strongly bearish ; bearish targets are in sight and in force.

Cheers,


David Alcindor | 4xQuad.com


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10 JAN 2015 - Update:


OVERALL REVIEW OF SEVERAL LTCBTC CHARTS:

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LTCBTC - Posted 11 months ago:

1 - Hit TG-1 dead-on

2 - Near-hit TG-Lo

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3 - TG-Lo eventually hit and surpassed:

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Momental lines remain in control, clamping price into a broad channel ... Until recently ... :

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OVERALL:

LTC has moved up and off the momental line. I will post a new chart on this soon.

David Alcindor

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+1 Reply
IvanLabrie 4xForecaster
Interesting David, I had this chart:

Relatively close, target not met yet.

Interesting lines in one of your LTCBTC charts, haven't seen it before.
+1 Reply
Now we bounce to 0.024:)
Reply
100% agree.. this ratio just goes to this pits constantly. Check my published idea's for the market psychology explanation.
Reply
I'll be anxious to see if you're right this time, friend. I missed playing that "dead-on hit" wick that kissed .024, and have been holding my orders for the next go round. Do you think the shaky consolidation happening in BTC/USD affects LTC/BTC from testing new lows before consolidating around it's current point itself?
Reply
4xForecaster BuyOnPurple
@ BuyOnPurple - Each component of this relative strength charts are contributing values from the BTC-e exchange, so it really all depends on what BTCUSD exchange you are coming from.

Overall, this chart is built to highlight the relative strength of Litecoin against Bitcoin. For this chart to go in the bearish position and ultimately reach the bearish forecasts, the following scenarios and internal strength of each component has to happen:

1 - Litecoin goes up, but Bitcoin outperforms litecoin in its bullish move
2 - Litecoin stall, but Bitcoin rallies
3 - Litecoin declines and Bitcoin stall
4 - Litecoin declines faster than Bitcoin

In any case, the overall gist is not lost across exchanges. Sure, there will be variations within each candles, and the valuations are off, but the directions, depth of targets and precision of the forecasts should remain preserved.

I hope this answers your question.

Cheers,

David
Reply
flibbr 4xForecaster
Your points 1-4 are spot on. . and this is why.. if your trading to make more BTC... trading the LTC/BTC ratio is risky.. because it just naturally likes to go down all the time !
Reply
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