$ETH did it, not it is $LTC's turn. Enter at your own risk and prepare for a choppy ride to the promised land.
Trade active:
All systems go! Red line pierced, let it come back real quick, touch 185, then, if Charlie Lee doesn't dump on us again, lift off to the promised land.
Comment:
Closed this trade for a couple of days due to overall risk management, but have reentered. Gave up a great entry but I closed the prior trade in profit. Might move this one to a separate risk basket.
Comment:
If we retest $150 and bounce I'm taking a huge position. I think we will get a chance at at least 170. Crypto as a whole looks pretty rough. We are due for a 30% BTC/40-50% altcoin correction.
Comment:
Feb 22nd call was right, tough week in crypto. We might get our real second chance here shortly.
Personally my macro crypto view is we stall out at $BTC around 50k, have one more retrace to a 42k with 36k being worst case, then that was your last chance to buy sub 40k for the rest of your life. I go into more detail into this on my twitter account (@ribsauce, follow me if you want to) Posted a thread that ended with my thoughts on Feb 28th and also retweeted a conversation with the King Stillman the same day.
Anyway, when this happens you want to be long $BTC first, and as soon as it cools fly into whatever alts you like, $LTC included. Of all the 2017 big alts still around (basically the OG coinbase alts), if you look at the daily/weekly chart between now and then, I think $LTC is the best looking one outside of maybe $ETH, but $ETH has broken its ATH (then retraced 40%) but $LTC is still only halfway there.
Not sure if that means LTC or ETH is better to be honest.
PS if this trade hits some firm hire me. I'm moving to the midwest and want a job. holla
If $BTC is not always the center of your portfolio, you're not gonna make it. Sorry anon
Personally my macro crypto view is we stall out at $BTC around 50k, have one more retrace to a 42k with 36k being worst case, then that was your last chance to buy sub 40k for the rest of your life. I go into more detail into this on my twitter account (@ribsauce, follow me if you want to) Posted a thread that ended with my thoughts on Feb 28th and also retweeted a conversation with the King Stillman the same day.
Anyway, when this happens you want to be long $BTC first, and as soon as it cools fly into whatever alts you like, $LTC included. Of all the 2017 big alts still around (basically the OG coinbase alts), if you look at the daily/weekly chart between now and then, I think $LTC is the best looking one outside of maybe $ETH, but $ETH has broken its ATH (then retraced 40%) but $LTC is still only halfway there.
Not sure if that means LTC or ETH is better to be honest.
PS if this trade hits some firm hire me. I'm moving to the midwest and want a job. holla
If $BTC is not always the center of your portfolio, you're not gonna make it. Sorry anon
Comment:
Of all the old second tier Coinbase legacy coins, $LTC is the one with the most upside. Does it have the most upside? No it does not. But I would long it over $BCH, and until 24 hours ago probably $ETH as well.
Sooner or later this chart will come true.
Sooner or later this chart will come true.
Trade active:
So, like a donkey I overextended my risk on a false breakout in a bunch of assets, and ended up shaking myself out of this one for overall risk control. I missed about 20 dollars of movement on this error, so I left some on the table, but whatever. Back in, invalidation is closing back below 180 and I am not going to allow myself to close or move up my stops until we hit $275 (move up stops) and $300ish (consider closing).
I like my positions, but if any of the other ones start to look like butt I'm closing them and adding to $LTC on a dip. This is my absolute favorite position out of all of the ones I am in.
I like my positions, but if any of the other ones start to look like butt I'm closing them and adding to $LTC on a dip. This is my absolute favorite position out of all of the ones I am in.
Trade closed manually:
Good news: Trade made it to the first take profit.
Bad news: Crypto as a whole fell off the cliff, and my stop was too wide, at 204, should have been about 212 probably, anyway, stopped out, LTC is at 194 now, but I do NOT knife catch in a market that I have personally seen drop 30% probably 15 times, 80% two times, and 40% drops in a day I think two times, and I've only been trading it 4 years.
BTC daily starts looking good, I'm eying LTC for attempt number two.
Crypto is just a tough market. The rug pull is always lurking.
Bad news: Crypto as a whole fell off the cliff, and my stop was too wide, at 204, should have been about 212 probably, anyway, stopped out, LTC is at 194 now, but I do NOT knife catch in a market that I have personally seen drop 30% probably 15 times, 80% two times, and 40% drops in a day I think two times, and I've only been trading it 4 years.
BTC daily starts looking good, I'm eying LTC for attempt number two.
Crypto is just a tough market. The rug pull is always lurking.
Trade closed: target reached:
I failed to update this, but I got back in around $270, closed at $320, and literally 48 hours later crypto fell off a cliff. My best timed exit ever. My twitter feed documents how lucky I got. Sold $ZEC at $350 and $BTC at $59,000.
I have not taken a trade since.
I have not taken a trade since.
Comment:
Double checked my $LTC records, last sells were $375 exit, then one attempted knife catch at $330 that I bailed on at $320. Quality trading either way.