The 24 hour-ban from yesterday has just made D4rkEnergY even more thirsty after spreading love and wisdom to you guys!
So not the greatest days in trading, D4 sighs. Once again Bitcoin has come home drunk and has smashed half the furniture and beaten up poor ETH and all the little coins. One of the top altcoins is not having it anymore though, and that's Litecoin.
Last time D4 told you to pray for Litecoin, and I'm glad you did. D4s prediction was right about how low we would go. We hit all the support levels I gave you. As you can see we first found support on 50 % retrace and then 61,8 %.
We are now in a , and Litecoin is at this very moment trying to break up and out. We are having a hard time since the 50 % retrace now acts as hard resistance. But it seems like it finally goes through. That is really good, because that means, we can afford to have a smaller correction, and if we come back again, we can go in via the inverse .
But why is Litecoin doing so well after the hard retracement? D4 wants to show you a snapshot he took of the LTCBTC Chart!
In this chart we will find a really interesting lesson, we all can learn from. It has a clear pattern we can act on, and make some money on in the future. First of all: Litecoin is not any different than the other altcoins in the sense that it in general follows Bitcoin . But please pay attention to those crazy spikes LTC has from time to time.
D4 will clarify the lesson for you: Usually when BTC goes down, LTC goes down even more. After some time with less , and BTC goes up Litecoin shoots up. After that LTC will again fare worse than Bitcoin for some time. AND then again A SPIKE! You can see how the story repeats it self.
D4s advice for you guys is to watch after these spikes. But remember we are in a period of uncertainty, so at the moment we only want to trade LTC when BTC also goes up!
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I await your overall market sentiment for the long term. I worry either we are headed for a terrible crash like the DOT COM bubble had initially(yea we are not copying the DOT COM but the power of the 'exponential' takes place meaning if DOT COM had 3 years of big boom and then crash then its like BLOCKCHAIN could have 1.5 years(we already finished 1 year of boom- 2017) thus my gut is screaming a huge huge crash sometime near August.) what are your thoughts on this kind of long term thinking ?
Thanks and cheers.
we just broke some resistances also, next target is 200$