Litecoin has been on a roll lately, and for very good reasons.
Technical Analysis:
Earlier Litecoin broke through a strong resistance level with high volume.
Turning the level to our floor.
Litecoin has been going down for a few years now and it seems like a perfect time for a huge pump, if the fundamentals can support it, which it definitely could.
Buy In: 11.70 USD
First Target: 19.50 USD
Second Target: 29.50 USD
Third Target: 90.00 USD
Stop Loss a small range below the floor.
Fundamental Analysis:
Despite growing price of bitcoin and good news from Japan, Bitcoin still has a major scaling problem. And the economic community is WAY more splitted in Bitcoin then Litcoin.
This gives Litecoin its best ever chance to stand out and show it's usefulness. If it does that it should be economicly rewarded.
Being the test rabbit for Bitcoin is the way to show that usefulness, and implementing Segwit is the action needed to achive it.
Which is looking more and more like a reality, in fact the threshold for activation was just met today at 75%. Time of writing it is 78%.
But there is more consensus then those numbers would tell you. In fact, only one guy is controlling the opposing side of the miners. Therefore the Litecoin creator Charlie Lee has said a UASF will be pushed through if that one guy keeps it under the 75% threshold.
Actually it may be even more beneficial to Litecoins price if it does UASF, as it seems that is the way Bitcoin has to go. In my eyes that would make my third target more likely but it would take longer time aswell.
And dont forget about the Coinbase addition! That is coming within 2-20 days I believe, and that fits perfectly on top of the segwit action.
My TA has not been done on this kraken chart as there is very little volume, but it was the chart that Tradingview let me go longest back in time on.
I have used BTC-E:
Technical Analysis:
Earlier Litecoin broke through a strong resistance level with high volume.
Turning the level to our floor.
Litecoin has been going down for a few years now and it seems like a perfect time for a huge pump, if the fundamentals can support it, which it definitely could.
Buy In: 11.70 USD
First Target: 19.50 USD
Second Target: 29.50 USD
Third Target: 90.00 USD
Stop Loss a small range below the floor.
Fundamental Analysis:
Despite growing price of bitcoin and good news from Japan, Bitcoin still has a major scaling problem. And the economic community is WAY more splitted in Bitcoin then Litcoin.
This gives Litecoin its best ever chance to stand out and show it's usefulness. If it does that it should be economicly rewarded.
Being the test rabbit for Bitcoin is the way to show that usefulness, and implementing Segwit is the action needed to achive it.
Which is looking more and more like a reality, in fact the threshold for activation was just met today at 75%. Time of writing it is 78%.
But there is more consensus then those numbers would tell you. In fact, only one guy is controlling the opposing side of the miners. Therefore the Litecoin creator Charlie Lee has said a UASF will be pushed through if that one guy keeps it under the 75% threshold.
Actually it may be even more beneficial to Litecoins price if it does UASF, as it seems that is the way Bitcoin has to go. In my eyes that would make my third target more likely but it would take longer time aswell.
And dont forget about the Coinbase addition! That is coming within 2-20 days I believe, and that fits perfectly on top of the segwit action.
My TA has not been done on this kraken chart as there is very little volume, but it was the chart that Tradingview let me go longest back in time on.
I have used BTC-E:
Comment:
twitter.com/f2p...047376608600065?s=09
The fact that this idiot can influence the market as much as he can is disturbing.
Anyways, thats the reason for the latest little price boost.
Lets hope it breaks the resistance so we can go up to our first target.
And remember, coinbase addition tomorrow!! (Most likely)
The fact that this idiot can influence the market as much as he can is disturbing.
Anyways, thats the reason for the latest little price boost.
Lets hope it breaks the resistance so we can go up to our first target.
And remember, coinbase addition tomorrow!! (Most likely)
Comment:
We have strong trendline that I dont want to see broken now. If it does, I'll be looking to sell a little bit of my position and rebuy lower. But remember, Coinbase can come anytime and you want to be long when it does.
The reason for the worry is obvious, Jihan Wu is back again.
Increasing hashpower massively and keeping the segwit support at below 75% now.
It's just miner games and Segwit will be implemented either through miners or UASF. Both options are highly bullish for Litcoin.
However, increased volatility means opportunity to trade.
We have strong trendline that I dont want to see broken now. If it does, I'll be looking to sell a little bit of my position and rebuy lower. But remember, Coinbase can come anytime and you want to be long when it does.
The reason for the worry is obvious, Jihan Wu is back again.
Increasing hashpower massively and keeping the segwit support at below 75% now.
It's just miner games and Segwit will be implemented either through miners or UASF. Both options are highly bullish for Litcoin.
However, increased volatility means opportunity to trade.
Comment:
Hitting the area for support. Lets hope it holds.
This would be a perfect time to buy if you have not already.
Hitting the area for support. Lets hope it holds.
This would be a perfect time to buy if you have not already.
Comment:
Is it broken or was it just a fakeout?
We'll know soon.
We'll know soon.
Comment:
Looks to be a fakeout. Respected the lines very well and increased buy support now.
But nothings for certain.
Looks to be a fakeout. Respected the lines very well and increased buy support now.
But nothings for certain.
Comment:
Well it broke. Manipulation can be hard to trade.
Really expected a bounce off the 0.0095 area.
But even though its being manipulated to shit by Jihan Wu, Litecoin still has the creator and the community with 100% support for Segwit.
In fact, I don't think there exist any other people then Jihan that is against, the cancer of crypto.
We will win at the end. My position size is the same as when I bought in. If it goes below 8 USD, I'll have stops in place.
Really expected a bounce off the 0.0095 area.
But even though its being manipulated to shit by Jihan Wu, Litecoin still has the creator and the community with 100% support for Segwit.
In fact, I don't think there exist any other people then Jihan that is against, the cancer of crypto.
We will win at the end. My position size is the same as when I bought in. If it goes below 8 USD, I'll have stops in place.
Comment:
Much has happened to Litecoin since my last update.
A lot of good news relatively spoken.
The reason for no updates is I had to force myself to look away from this litecoin market for a little while. The manipulation that has occured on this market has been so extreme and obvious that the people behind it should be put in jail and taken their empire away from them. And we all know very well who I am talking about.
If you're like me and use Bitmex, then you have been fu*ked over especially hard.
I am planning to create some kind of illustration where I point to all the places that manipulation occured on the Litecoin chart within the last weeks.
Not sure if I have the time to do so, but the urge is there. So that I can illustrate to others the extreme level of insider manipulation that has been happening.
A lot of good news relatively spoken.
The reason for no updates is I had to force myself to look away from this litecoin market for a little while. The manipulation that has occured on this market has been so extreme and obvious that the people behind it should be put in jail and taken their empire away from them. And we all know very well who I am talking about.
If you're like me and use Bitmex, then you have been fu*ked over especially hard.
I am planning to create some kind of illustration where I point to all the places that manipulation occured on the Litecoin chart within the last weeks.
Not sure if I have the time to do so, but the urge is there. So that I can illustrate to others the extreme level of insider manipulation that has been happening.
Comment:
Looking away from the negative stuff with Litecoin, there is a lot of positives to be taken out as well.
If you are bullish on Litecoin like me, we have to keep our cool and dont let the criminals whip us out of our position.
In fact, everything that has happened over the last weeks with litecoin has been to shake holders out of their LTC position. That is the game that has been played, and sadly I think these manipulators has been more succesful then ever.
Personally I am disgusted by this kind of behaviour, but we as investors and traders have to look with a cynical eye. And if we do so, Litecoin is looking REALLY bullish. I am more confident that Litecoin can hit my third target (90USD) then I have been before. It's just sad the way it has been handled and how most people have been screwed over for the benefit of the criminals.
If you have not paid attention, this is the most important part that happened over the last week.
www.coindesk.com/lit...-blockchain-upgrade/
And guys, remember that Coinbase addition has to come any day now.
If you are bullish on Litecoin like me, we have to keep our cool and dont let the criminals whip us out of our position.
In fact, everything that has happened over the last weeks with litecoin has been to shake holders out of their LTC position. That is the game that has been played, and sadly I think these manipulators has been more succesful then ever.
Personally I am disgusted by this kind of behaviour, but we as investors and traders have to look with a cynical eye. And if we do so, Litecoin is looking REALLY bullish. I am more confident that Litecoin can hit my third target (90USD) then I have been before. It's just sad the way it has been handled and how most people have been screwed over for the benefit of the criminals.
If you have not paid attention, this is the most important part that happened over the last week.
www.coindesk.com/lit...-blockchain-upgrade/
And guys, remember that Coinbase addition has to come any day now.
Comment:
First Target Hit!! Sold a portion of my position at 19.50 USD. Up around 100% now!
Reason for the recent price movement is Coinbase addition. Finally it got added! :)
Reason for the recent price movement is Coinbase addition. Finally it got added! :)
Comment:
And now the second one! :) Can we hit 90?
Comment:
We got ourselves a long sqeeze. Right after my first targets where hit. That's perfect!!
Bought back 10% of my position as I feel real confident in the future of Litecoin with segwit activited within the next 48 hours :)
Big korean exchange just added litecoin and we have a lot of good news to look forward to. LN & Confidential Transactions to mention as probably the biggest!
We got ourselves a long sqeeze. Right after my first targets where hit. That's perfect!!
Bought back 10% of my position as I feel real confident in the future of Litecoin with segwit activited within the next 48 hours :)
Big korean exchange just added litecoin and we have a lot of good news to look forward to. LN & Confidential Transactions to mention as probably the biggest!
Comment:
www.coindesk.com/lit...s-experimental-tech/
"Lots of developers assumed that SegWit would pass, and built a lot of stuff. The last thing developers want is to see their work wasted."
THIS! Developers will flock to Litecoin because Bitcoin can't make a decicion.
Which is very bullish for Litecoin.
"Lots of developers assumed that SegWit would pass, and built a lot of stuff. The last thing developers want is to see their work wasted."
THIS! Developers will flock to Litecoin because Bitcoin can't make a decicion.
Which is very bullish for Litecoin.
Comment:
We got one more leg down then I expected, but overall pretty good :)
Litecoin has right now broken through 0.02 with strength!
We got one more leg down then I expected, but overall pretty good :)
Litecoin has right now broken through 0.02 with strength!
Comment:
This is why its important to take profit at different levels.
Litecoin dumping with bitcoin, bulls is resting. Would have liked to see Litecoin start to go upwards when Bitcoin started its dump, but oh well.
I'm still in this with 50% of my orginal position. And it could shoot up at any time. Especially if good news around LN drops.
However, in the short term it looks like we might head down to test the trendline. I'm not trading this because it could shoot up any time, but it's a possibility we need to test some support before it happens.
This is why its important to take profit at different levels.
Litecoin dumping with bitcoin, bulls is resting. Would have liked to see Litecoin start to go upwards when Bitcoin started its dump, but oh well.
I'm still in this with 50% of my orginal position. And it could shoot up at any time. Especially if good news around LN drops.
However, in the short term it looks like we might head down to test the trendline. I'm not trading this because it could shoot up any time, but it's a possibility we need to test some support before it happens.
Comment:
That horizontal line there goes back further on the chart and represents an earlier support level on LTCBTC. 0.0126.
And that's our heavy support area. Between 0.0126 & 0.013.
And that's our heavy support area. Between 0.0126 & 0.013.
Comment:
And it did, perfectly.
You can see the 4H close above 0.5 FIB, and a few hits on the trendline.
Held very well, and we can start to go up again like we already have :)
It may go down again to test, always a possibility. Depends on BTC and news.
And it did, perfectly.
You can see the 4H close above 0.5 FIB, and a few hits on the trendline.
Held very well, and we can start to go up again like we already have :)
It may go down again to test, always a possibility. Depends on BTC and news.
And it remains stable at 81-82%.
Price is going up fast now, and I think we will break the resistance within a short period of time :)