Lot's of FUD around Bitcoin and it's forks right now. I think Bitcoin will be fine, and in fact likely go for a new all time high once the forking bullshyte is complete. Just like it did after the Bitcoin Cash fork, and Litecoin will likely follow Bitcoins waves up; this means in November/December we are very likely going to break the 100s. People get caught up in the price of the coins way too often. Litecoin is still way way way way way... way undervalued for what it is and it still has the strongest fundamentals in the entire market to back it up. This is a coin that took beatings from two fronts ( Bitcoin going down, and China leaving the market) when we were at all time highs. And it survived the fiasco... If that does not prove that it is resilient... I don't know what else to tell people.
We are having major shakedowns where the price goes down on low to induce panic selling. This is a shitty practice but it is a practice that is necessary to get rid of weak hands before we break 100s.
Next we will turn the 4hr chart bullish; this will confirm major upside; it means we'll have to break 61.16-61.30 range.
First we will have to break 60.70+ to turn the 6hr PSAR bullish. 4hr PSAR already bullish... So turning the 6hr will confirm our major move up; doing so will most likely turn the MACD bullish on the 6hr chart.
more sideways action will bring the moving averages closer; when they converge we see major moves.
SMMAs are bundling up.
Chart might just be checking for support levels (seeing where the buying pressure comes through); if that is the case it is a good sign.
God damn. That bot is annoying. Sort of like a repeat of yesterday night.
Also quit complaining about the ratio. It'll go back to 0.02 eventually probably within a month at the latest. Stoch RSI on the week chart for LTC/BTC is setting up to indicate upward price movement on the scale of weeks.
I did say we may not break it, and blow through it the first time. And we didn't so now we must wait until this shenanigans are done. We could very well test that 54 range once more.
Some LTC growth stats: https://i.imgur.com/hVEyxKN.png
If we hit even a fraction of the growth we had last year; expect 2018 to be very bullish. Even at the 33 mark LTC was up over 700% this year. At its peak it was at 2300%. And right now it is up over 1200%.
12hr chart MACD setting up to turn bullish.
Litecoin strong! As mentioned earlier in the day the chart is back to conditions it was at before the jump to 90s and before when China left the market. So strap on your big boy pants peeeps! It maybe a rocky start to shake last of the dead weak hands; but the upward trend is real!
As mentioned before breaking the red fan confirmed that we have support at 52 and sub 52. Also FUDers are showing up as they generally do before a rally, to shake the weak hands. All we do now is wait until accumulation is complete.
Stoch RSI has cooled, and MACD is setting up to turn bullish on the day chart.
Notice how the support this time round is at higher levels than before.
This means we can definitely go much higher than 90s when the big rally starts.
Stoch RSI and RSI are ready.
On Balance Volume indicating accumulation. Accumulation is evident when price trends down but OBV trends up.
Day chart is looking very healthy.
The amount of noise and doubt being spread is absolutely retarded. LTC under 100 is cheap to me because once it breaks 100 it can easily reach 150 before coming down; as many other traders agree.
On Balance Still Trending up meaning accumulation is still occurring agreeing with the volume price profile above.
Nothing to but wait. Once accumulation is complete we will move up! Also Litecoin and Bitcoin are inverse of each other relative to the dollar. Meaning BTC has likely peaked, and that LTC has likely found bottom; ultimately meaning that the LTCUSD/BTCUSD ratio should improve soon.
MACD looking great on the day chart.
OBV still trending up.
BTC dip/correction starting. 4500 - 5000 is likely where it finishes correcting.
Click the chart below to go to BTC trends.
*fixed the chart url.
OBV still trending up. MACD setting up for bullish crossover, BBands tight, PSAR setting up to turn bullish. All these are bullish signs that the next few rallys are going to be yhuge.
Already bullish on other exchanges.
Click the chart below to go to fib chart.
Once we pass 64 next resistance zone will be between 69 and 72.
Bullish MACD crossover is trying to occur on the 15min chart.
Do check out:
Both looking very similar.
This is why I don't trade based off that pattern. B/c it is vague; however I am still keeping an open mind about it.
My target for the big rally is between 110-150 range as mentioned previously.
Remember that we said that breaking teal line or staying above the teal line makes us bullish. So far we are just hanging out around the teal line. Currently consolidating near the teal line before going to test the white line at 82.60
Still above teal line bulls are in control. Lots of exchanging of hands between bears and bulls during the consolidation period.