IvanLabrie
Short

LTCBTC soon to tumble and fall to new lows

BITFINEX:LTCBTC   Litecoin / Bitcoin
955 9 12
We are witneseeing longer term long position inventory liquidations by the holders who opened at or around August 18.

Based on the move away from fair value that LTC is displaying and the weakness manifested in BTCUSD             as well, I conclude that this pair will take a beating and reach new lows.

My forecast is a halving of the previous accepted value, so targetting 0.005865 BTC             per LTC in the coming weeks.
excellent analysis and looks like you were spot on... i also expect price to hit somewhere 0.0058 range sometime soon before commencing further to 0.004xx levels... i think at this stage ltc has nothing to offer and a lot of bagholders are going to exit this market in near future...
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I was 0.00003 off and 5 weeks early...
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Target barely missed, 0.00586...it hit 0.00590.
Meh, what a fail! ;)
+1 Reply
Looks good. (not for LTC)
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Moving as forecasted, slow but sure decline.
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Weekly trade working out beautifully...
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Dominant trendline:

snapshot
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IvanLabrie PRO IvanLabrie
snapshot


Trendline still relevant.
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BTC-E:
snapshot

As you can see levels are similar, if not equal.
I expect this forecast to materialize soon, even in less time than expected.
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