What to do with Litecoin? Easy Long

Litecoin / U.S. dollarBitstamp

Description

⋅ Dec 9, 2017 12:41 AM

I see a parabolic move coming in Litecoin. Buy the 618 or be quick about it - whatever makes sense for your risk tolerance.

It's a $6 billion market cap - it may not be too difficult to move this one much higher. It's the cheapest coin on Coinbase (a crypto broker that is dominating the crypto market), so people with less $$ will want to buy the cheapest coin. This is a game of psychology. Whether the logic makes sense or not, the chart certainly says stay long or go long.

Exit strategy since we are approaching "no mans" land:
Attach code below in your pine editor. Put the time scale on Weekly. I am holding as long as the candle remains green and the structure stays intact.

//Modified Heikinashi with EMA Filter...
//Choice To Plot EMA Trend Is Based Off Of
study(title = "CM_Modified_Heik_Trend_Bars", shorttitle="CM_TrendBars",overlay=true)
note = input(false, title="Lower Numbers = More Sensitive to Price Change...Higher Numbers = Less Sensitive")
uema = input(34, minval=1, maxval=50, title="EMA UpTrend")
dema = input(34, minval=1, maxval=50, title="EMA DownTrend")
shema = input(false, title="Show EMA Trend is Based On?")

haclose = (open + high + low + close)/4
haopen = na(haopen[1]) ? (open + close)/2 : (haopen[1] + haclose[1]) / 2

upEma = ema(haclose, uema)
downEma = ema(haopen, dema)

emaAvg = (upEma + downEma)/2

heikUpColor() => hlc3 >= emaAvg
heikDownColor() => hlc3 < emaAvg

col = hlc3 >= emaAvg[1] ? lime : hlc3 < emaAvg[1] ? red : white

barcolor(heikUpColor() ? lime: heikDownColor() ? red : na)
plot(shema and emaAvg ? emaAvg : na, title="EMA UpTrend", style=line, linewidth=3, color=col)

---------------------------------------------------

Previous Litecoin analysis:

Comment

⋅ Dec 12, 2017 2:41 PM

Think it's a good time to say.. cha-ching

The exit is always the challenge... Still holding long.

Comments

WARBUCK

⋅ Dec 9, 2017 11:05 PM

Steem also dumped BTC for LTC payments...sign of the future?

Lanmar

⋅ Dec 9, 2017 11:37 PM

@CryptKnight, very interesting

regalia

⋅ Dec 10, 2017 1:13 AM

@CryptKnight, it is $$ and slow. LTC is the future

MoonPickle

⋅ Dec 9, 2017 12:56 AM

great TA! keeping it simple

Genghis

⋅ Dec 12, 2017 3:23 PM

Sensational work... well played.

Lanmar

⋅ Dec 12, 2017 3:32 PM

@Genghis, thanks champ

GridGrid

⋅ Dec 13, 2017 12:13 PM

Great job. I would say that you are Wang. Clearly you know more than other traders. I believe less now than you do. Since he sold 35 LTC in September. I did not listen to the signals

EricaIndiraSwanson

⋅ Dec 9, 2017 7:24 PM

When do you predict that Litecoin will hit $200?

Lanmar

⋅ Dec 9, 2017 7:46 PM

@EricaIndiraSwanson, parabolic moves are usually quick. Maybe a week? Maybe more. I am not sure.

Lamaxiz

⋅ Dec 9, 2017 9:46 PM

@Lanmar, Thanks for your great analysis. Are you saying we haven't already had the run up this morning?