What goes up must come down. It seems that the majority of the new money entering these evolving crypto asset classes still need to learn this golden principle. With so many seeking thousands of percent in gains, they have failed to realise that this is tradingview. Buy low sell high, and in no way, shape, or form---the best strategy in money management is take a modest gain and reload your capital when the opportunity presents itself.
Me myself, the more the FUD the better. The more HODLR's, well, that's even better. I will stick to my tried-and-true methods of following the smart money and scraping my modest percent gains wherever I see my opportunity.
TA:
My primary account is that we find ourselves in an WXY correction (no need for the labeling on this one). Fib extensions will not help up get any sort of count for the bulls here; however, they do provide much insight on the way down (which I propose considering my primary count). That isn't to say that Litecoin is any way dead--there are always profitable trades to be made, long or short. As the crypto-space is continually being dominated by some pretty deep pockets, it goes without saying that their ideal market is bearish.
Notice my white box with the 161.8/175 box, my proposed 3rd wave in our current C wave. Analytical probability has this chart of LTC poised to reach lower prices. Looking to the left I do some support being offered around just shy of $100. But with what has transpired since this bear correction may make people think twice about re-investing, and by extension, not supplying the necessary volume needed to begin the start of a new trend. And let us not forget, we could still have a triple-elliot combo in the works. In other words, it's going to be a very cold and bearish summer. But let's hope not.
We have a couple major points to watch out for. And both will require massive buying volume, which has been absent up to this point. Instead I have decided to focus on some proposed Algo targets to look for signs of strength. Although my Long term goals with LTC are not bearish, I do expect to see some potential good swings in the coming months. Of course not as much as my other Alt positions, but hey, it beats my stock percentages ;-)
Areas to Watch:
A beak of $105 approx which could lead to some front-running around -236.
And the extreme algo target of approx $35 (ultra-bearish).
--longmoney out
*Educational Advice*
Me myself, the more the FUD the better. The more HODLR's, well, that's even better. I will stick to my tried-and-true methods of following the smart money and scraping my modest percent gains wherever I see my opportunity.
TA:
My primary account is that we find ourselves in an WXY correction (no need for the labeling on this one). Fib extensions will not help up get any sort of count for the bulls here; however, they do provide much insight on the way down (which I propose considering my primary count). That isn't to say that Litecoin is any way dead--there are always profitable trades to be made, long or short. As the crypto-space is continually being dominated by some pretty deep pockets, it goes without saying that their ideal market is bearish.
Notice my white box with the 161.8/175 box, my proposed 3rd wave in our current C wave. Analytical probability has this chart of LTC poised to reach lower prices. Looking to the left I do some support being offered around just shy of $100. But with what has transpired since this bear correction may make people think twice about re-investing, and by extension, not supplying the necessary volume needed to begin the start of a new trend. And let us not forget, we could still have a triple-elliot combo in the works. In other words, it's going to be a very cold and bearish summer. But let's hope not.
We have a couple major points to watch out for. And both will require massive buying volume, which has been absent up to this point. Instead I have decided to focus on some proposed Algo targets to look for signs of strength. Although my Long term goals with LTC are not bearish, I do expect to see some potential good swings in the coming months. Of course not as much as my other Alt positions, but hey, it beats my stock percentages ;-)
Areas to Watch:
A beak of $105 approx which could lead to some front-running around -236.
And the extreme algo target of approx $35 (ultra-bearish).
--longmoney out
*Educational Advice*
Comment:
Comment:
Trade closed manually:
Upside potential am just not seeing it. Trade on hold for now. Original downside still favors my primary
Comment:
Confirmation needed for me to go Long. Possible new chart tonight.