LTC has finally reached my support level of 70 dollars. I recommend buying here for short OR long term but be aware the downtrend is gathering steam on all cryptos and this may turn into a full fledged downtrend. I am buying for a short bounce here so my stop level is just below here so i can sleep at night. If we have a stop run selloff i will rebuy a cross back above 70. IMO LTC is the leader now and we need to watch it for clues regarding the entire crypto space. Its important to stay focused with an investment as volatile as this.
Please click the like button if you agree with my idea, thanks!
Please click the like button if you agree with my idea, thanks!
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73.50 support is holding ... so far so good
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The weakness we are seeing here on the 4H and lower timeframes is not encouraging at all. If we dont break out the top of this flag soon i am taking my tiny profit and waiting for more selloff.
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Please upvoat me you leeches!
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This biatch dont like 75.60 at all. And that is only halfway up the channel! Very weak! We need 78 to be taken out on a strong bar for this thing to catch fire.
Also this flag is weaker than the previous so even though 70 is a great support level... im having doubts now... but remember cyptos are the great decievers, they defy all logic because the actually have no intrinsic value and they can trade all over the damn map and change direction on a dime. They are not for beginners or those with weak stomachs. At this point im thinking most cryptos are setting up for a large drop but they could turn on a dime and blow up into a huge wave 3 rally because nobody actually knows what the value of cryptos really should be.... 10 cents or 10 thousand. They are pure gambling at this point, dont put your life savings into this or you may wind up a) on a yacht or b) eating catfood under a bridge.... and ive been in BTC since 20 bucks, i know what im talking about. If LTC dont break out soon im out and waiting for lower levels.
Also this flag is weaker than the previous so even though 70 is a great support level... im having doubts now... but remember cyptos are the great decievers, they defy all logic because the actually have no intrinsic value and they can trade all over the damn map and change direction on a dime. They are not for beginners or those with weak stomachs. At this point im thinking most cryptos are setting up for a large drop but they could turn on a dime and blow up into a huge wave 3 rally because nobody actually knows what the value of cryptos really should be.... 10 cents or 10 thousand. They are pure gambling at this point, dont put your life savings into this or you may wind up a) on a yacht or b) eating catfood under a bridge.... and ive been in BTC since 20 bucks, i know what im talking about. If LTC dont break out soon im out and waiting for lower levels.
Trade closed: stop reached:
Im out... why? Because we have over an hour left until the 4H bar closes and we took out the low of the previous 4H after hitting support. If i wait for the next 4H candle to close i could give back all my profit. Instead i exit with a small profit and plan the next trade... beware it is at these inflection points that massive drops do happen. I will rebuy a 4H close back above the 75.60 level... i will be back long at that point. because we are in a bullish trend it is not advisable to go short here.
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what now? for those of you wondering how do i reenter if i just got out... i put the stop buy level on the chart. Buy above 76. This will need to be adjusted for USDT or PAX or whatever you are trading. basically put a stop buy order above the recent high on 4H chart. Good luck!
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my aplogize i pasted the wrong chart link, here is my stop buy level for LTC:
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Figured id post this for tether because these prices for cryptos can get so confusing depending on what USD proxy you are using it just throws all TA out the window basically... so ill stick with tether because this is what most people are trading on binance (even though tether is bullshit) it trades the closest to the USD for now... After re-evaluating this i want to change this level to the purplare area on my chart. The big pinbar stopped right at this resistance area. If we go above there i will buy again but after looking at this chart for the last hour ... i will not touch this. That big pin bar said... NO WAY... we are going down baby. I will revisit this stuff once we get back into the purple area, otherwise im outta there!
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so if you followed this and my other LTC post you will notice i kept you out for the entire downtrend and told you to buy at 70 which was about 25 cents from the current bottom which you would have made a decent profit and now im telling you to get again, probably saving your asses from more losses....... can i at least get some upvotes you leeches?
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126 views and growing and 1 upvote... leeches will get what they give... its the law of karma
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I actually dont know why anybody posts ideas on tradingview other than trying to be rated as some kind of great analyst. There is zero benefit... and really unrewarding when you have great ideas and nobody upvotes you.... i will actually make more money keeping my ideas to myself since most of them were thought up by me and are great ideas! If fuckhead newbies dont like them im not rated high. Great. Makes you not wanting to share any ideas you may have. Counter - intuitive!
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This is for the kind person who upvoted me. may the gods of crypto shine on your portfolio kind sir/madam. I will post one update for every upvote i get from now on. So here we go. LTC looks sad period. It can barely hang on to the 72.60 support level. ADX on daily is falling indicating no trend. The large pinbar is a warning flag and a force to be reconed with. The uptrend will not, i repeat WILL NOT continue until we take out that bar. I am still out and now looking for 69 as the next support and possible area for a bounce to take place. I will probably throwe some mad money at it at that level... with a close stop loss of course because i enjoy sleeping without one eye on the monitor! ....lol
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As i said... more down
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Things have gotten more bearish folks... or bullish depending on how you look at it.... so LTC in tether is making new lows... while LTC in USD has not broken the low yet! This is what i mean when i say the entire crypto market is bullshit. How do we analyze this??? If im trading stocks... there is like one quote on a US stock. If it trades in another country like canada the chart is different ... but i dont use it... i use the parent country currency. So there is zero ambiguity... we now have over half a dozen stablecoins in which most cryptos trade in ... WTF? Are we in freaking vegas here? I ask myself, who seriously puts all their money in this roulette game?
Im really having isues with this nonsense lately. So... what do i chart? Logic tells me i better use USD even if tether is the most traded. So i will bitfinex. Doesnt much help that bitfinex is higher when you just lost money on tether does it? This is what you get for being involved in unregulated bullshit markets. So here we go.. even though tether has made new lows and looks bearish AF... the USD bitfinex chart shows we are still on target for my 69 level i identified as a major buy location. In an effort to provide some kind of clarity here i will now focus on the USD price although the tether price might provide some clues... in this case bearish.
If 69 does not hold... i expect we are going down to test the breakout point near 62 which was the original post i made a few weeks backs on LTC. Bottom line is dont buy yet! Wait for a better opportunity.
Best of luck trading and please click the like button if you enjoy these updates.
Im really having isues with this nonsense lately. So... what do i chart? Logic tells me i better use USD even if tether is the most traded. So i will bitfinex. Doesnt much help that bitfinex is higher when you just lost money on tether does it? This is what you get for being involved in unregulated bullshit markets. So here we go.. even though tether has made new lows and looks bearish AF... the USD bitfinex chart shows we are still on target for my 69 level i identified as a major buy location. In an effort to provide some kind of clarity here i will now focus on the USD price although the tether price might provide some clues... in this case bearish.
If 69 does not hold... i expect we are going down to test the breakout point near 62 which was the original post i made a few weeks backs on LTC. Bottom line is dont buy yet! Wait for a better opportunity.
Best of luck trading and please click the like button if you enjoy these updates.
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Message to tradingview: when i enter a STOP REACHED close trade action the chart should be halted to show a profit... instead it keeps trending and shows a loss if viewed on current date. please fix this, thanks
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I figured i would post the TETHER chart just because so many people are binance and need some kind of relative level to sell / buy at. Its a pain in the ass but ill try to post BOTH usd and Tether charts... so this is not looking great folks.
I am expecting more downside. If you have an open mind please do yourself a favor and look into buying gold and silver as i feel the gains we are about to see in these will make most brypto hodlers depressed as their investment loses. Dont get me wrong... i like cryptos, i just dont believe in investing in bubbles 1 year after they burst... 5 years... ten years... YES... not now!!!
I am expecting more downside. If you have an open mind please do yourself a favor and look into buying gold and silver as i feel the gains we are about to see in these will make most brypto hodlers depressed as their investment loses. Dont get me wrong... i like cryptos, i just dont believe in investing in bubbles 1 year after they burst... 5 years... ten years... YES... not now!!!
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So the real question regarding crypto analysis is how do we approach this.... do we buy the USD drop inot 69 or do we pay attention to the USDT whcih is already below 69? I would say wait wait until USD (bitfinex) price hits 69 then buy at whatever tether price is at that time ... may be 68 or 67. U nfortunatly this completely fucks up easy stop losses unless you are able to reasonably guesstamate the USD to USDT exchange rate and adjust your stops accordingly otherwise it might just be simpler to do all your trading and analysis in USDT.
This bullshit is a major issue for those trading on binance.
This bullshit is a major issue for those trading on binance.
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Here is my analysis of the intraday chart.... buy order 70 sell order 75 for a short term play.
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So my 69 target price was bounced from nicely, the low was actually 38.83 , a few cents lower. I will be exiting again here shortly for a small profit. That is how to play these non trending markets... a little each day, and try not to lose. Keeps me from being bored.
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I meant 68.83 was the low... i gotta learn to proofread my comments!
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My previous BUY 70 (or 69) and sell 75 call worked out nicely. I am back out again.
If you followed this you just made a quick profit. Your welcome.
If you followed this you just made a quick profit. Your welcome.
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LTC continues to prove that this was a significant bottom at 69. We can now look at re rentering near the support levels shown.
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I also want to reiterate here for the brainwashed crypto HODLers out there.... i trade SHORT TERM. I am a miner of many years and have been into BTC since it was 20 bucks and i do not believe in HODLing an investment that is in a downtrend! Yes BTC... and others MIGHT be turning around here... but my experience has led me to not believe the most bullish scenario off a most recent long term bottom! It is usually fake! I admit it is so bullish at time that i almost leave money on the table recklessly but i usually come to my senses and sell as i just did like 5 minutes ago.... and wait for another moment of despair to go long. I will be buying the drops here because things are bullish enough to drive it higher for sure... but i do not HODL as i feel its about the same as HOPE which always ends in tears. Dont HODL... Dont HOPE... protect your capital! Another big deal is since i follow many markets i feel gold and silver are about to stage a massive rally... if this happens... a true breakout in metals continueing the trend of 2000-2011 then cryptos will lose value fast! Be on the watch for this!
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this is the most encouraging move we've seen in LTC since the correction started and came right off my 69 buy level. We are now consolidating and im looking for a break higher with a stop buy order above the recent intraday high.
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I've switched from USDT to trading TUSD lately. i would buy a break above 75 TUSD.
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Well that worked out nicely! We are at resistance now. A good place to take some profits. It's odd to see both gold and cryptos moving up strongly on the same day... dollar trouble coming?
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If you havnt taken your profits yet on cryptos it's getting late!
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Nice move in cryptos... hopefully you exited at the resistance i identified to lock in profits. The pullback has been more than i would like... i would not get back in yet but that could change at any moment. Watch this thread for updates as to when to get back in to LTC/ BTC etc. It has been a profitable week. Best of luck trading!
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Buy Stop 80.56 LTCUSD