bmad316

LTC: 2 YEAR BUBBLE ABOUT TO BURST?

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
https://228main.com/2015/11/23/anatomy-of-a-bubble/
  • LOOK AT THE CHART AND COMPARE IT TO THIS CHART. THEN READ.

    Looking at the 1 DAY chart on LTC, you can see, for the short term, we are pretty much screwed. This bubble is about to pop for good. We are reversing from the "return to normal" phase to "fear". Once that hits, it will get ugly, EXTREMELY QUICK.

    Guys, I love Crypto, and I really want it to succeed, and i think it will, to a degree, and given more time.

    But, open your eyes. Look at where we are. LTC was $3 a year ago, and everyone is freaking out if it goes below $100 now. Well guess what, it will. This bubble is done, and we have to finish the cycle. Then and only then, will the bulls return. Until then, This thing could go all the way down to sub $50. If it fully corrects the bubble, we are looking at sub $10, even sub $5. But I don't necessarily expect that, but the possibility is there.

    This is not technical or sound advice, and just my overall opinion of the markets.

    This is MY current decision.

    Abandon ship. Now.
Sounds like the same fud talk we heard last year at $70.00.. LOL
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bmad316 Waterboy980
@Waterboy980, wasnt FUD then and isnt FUD now, just a reaction to possible movements on the charts. After LTC hit 70 last year, it had a quick 50% corrcetion. If we have that same % correction now, we would be down at the $60 levels. And i would call that a bubble crash, its right in front of you man. And it isnt a bad thing, and it doesnt have any negative influences on my long term bullish outlook on crypto. Things cant go up non stop, without correction. It doesnt work that way.
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crazy talk
+1 Reply
bmad316 xxxSALTHEART
@xxxSALTHEART, dude i wish it was. But you cannot deny that this 1 day chart is almost perfectly resembling a rupturing bubble. If you checked out the link, you saw where we could potentially be. And all the indicators are lining up with that believe. Top that off with the uncertainty across the global stock markets, along with rising interests rate from the US Federal Reserve. Man, these could be corrections in the Crypto markets could be of epic proportions. Like those seen back in the stock markets during the 1930s. That would send us to sub $50 pretty easily.
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@bmad316, We could see $80-90....possibly. There's massive support at $50 so that's not going anywhere. But more importantly, there's no reason for it to crash...the underswell of movement, institutions, people moving into crypto from all walks of biz life, governments working out how to deal with it etc all point to fact it's not going anywhere. Institutions are more and more interested every day. Honestly, I think we are fine man. I think there's a chance we suffer some serious pain over next 4 weeks...almost hope we do so we can clear wreckage and carry on. Continue to think 18 will be a massive year.
+1 Reply
xxxSALTHEART xxxSALTHEART
@xxxSALTHEART, chart looks awful though i agree...
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bmad316 xxxSALTHEART
@xxxSALTHEART, I agree about the massive support at 50, but alot of that is psychological, remember, we didnt breach 100 during the last low, i think a breach of 100 almost certainly means a test of 75-80. And it wouldnt take much to push that to 60, then 50. Like i said, I dont necessarily see sub 10 prices. BUT IT IS A POSSIBILITY, and it IS a POSSIBILITY, showing up on the CHARTS. but charts do not always corrcet to their potential, but even so, this looks bad, and further downside in the short term is almost certain.
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@bmad316, guess we will know soon enough lol....definitely at breaking point here very shortly one way or the other. I keep buying...cant help myself lol.
+1 Reply
bmad316 xxxSALTHEART
@xxxSALTHEART, i bought a few coins right before the dec jump. I have more than doubled my coin holdings since then by trading. I have now vacated all positions and waiting to see what this thing does.
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