lowstrife
Long

Historical LTC/BTC Momentum Analysis

BTCE:LTCBTC   Litecoin / Bitcoin
So unless anyone hasn't noticed, Bitcoin broke out of a massive bear triangle at $450 two weeks ago and sparked this gigantic rally that we are all enjoying today (unless you sold at the bottom). However, Litecoin has yet to breakout of it's own bear trend, and historically, it is always late to do so. So I spent some time charting this today and discovered that LTC             and specifically LTC\BTC is primed to explode. As the cycle continues, attention will be moving to alt-coins in the next few weeks as people who "missed the boat" on Bitcoin look for other alternatives. Additionally, people who are invested with Bitcoin look for and learn for things to do with them, and more often than not they find alt-coins. Even if it doesn't happen for a few more days, it certainly is something that I am keeping an eye on.

And for those who are asking, on this scale I used RSI and RMI because other indicators get a bit... schizophrenic at this timescale.
coinwatcher
2 years ago
LTC/BTC has hit its bottom and BTC/USD has hit its top...I'm going LONG on LTC/BTC right now.
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Emanance coinwatcher
2 years ago
Nice timing :)
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pecivalec coinwatcher
2 years ago
LTC/BTC was falling like a rock whole month. I hope you didn't get a margin call. But don't worry I think it will start going up soon
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cezarone
2 years ago
still waiting for 0.01335
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pecivalec
2 years ago
LTC/BTC may recover slightly but will drop back again. It will take one more month until we see the explosion. But I am looking forward to it. So get ready. Lets take long positions and buy popcorn!
+1 Reply
Grinny
2 years ago
again, some major ltc selloffs happened yesterday and ltc is now below @0.013. the coin failed to break the long term downward trend for now, but still ltc/btc looks very similar compared to 2013 - before the massive rise began. ltc is now asic-powered, but on the other hand there are tons of other altcoins on the market. it's a tricky situation i think.
@lowstrife: want to give us an update on this analysis? i would really like to hear your opinion about ltc's situation.
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lowstrife MOD Grinny
2 years ago
Well, I have told people (not published but in conversations) that I have been buying in the 0.015 to 0.012 range. I'm out of my buys on the way down and I'm waiting for my upside targets to start getting triggered.

This has been one hell of a slide down though, all the older altcoins are hurting. I'm not horribly worried, I am starting to think that sub 0.01 is plausible, but I am (hoping!) that we shouldn't continue to fall much further. That huge 150k sell didn't hurt too badly and we're not horribly far from breaking the bearish trendline from last November even after that cataclysmic event.
+2 Reply
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