I talk about COINBASE:LTCUSD and cycles basically the entire video.. Didn’t want to, but Tradingview 20 minute videos got me capped fellas. Will have a strong follow up tomorrow on names I’m hunting like a savage.
1. Just remember that the average bear market across all assets is 18 months - 2 years.
2. Last LTC cycle took 3.7 years to recover from old highs. We’re about 2.2 years in now. Just stressing patience.
3. 2021 is the relative year to 2017 in the average 4 year crypto cycle. I don’t think 2020 is the ATH year, but I do think we’ll see more upside heading in to the summer. (Just my opinion)
4. Generally expecting a pop in to summer, 6 month downward consolidation, bottom in to winter, take off in 2021.
5. Talked about the idea of range breakouts and “staircases” - even gave you a sneak peak in to “Amanda’s Penthouse” :) Find her on the 7th floor. Much more realistic these days on SMALL caps than names like LTC/USD.
6. Talked about “chaos theory” extension level (4.669 ext.) - Personally I’ve just started experimenting with this level and having a fun time vetting it.
7. Talked about as asset classes age, become regulated, and become more “institutionalized,” the slowly comes out of the market. Especially things like BTC options now easily accessible.
8. Talked about pros/cons of trading spot markets vs. crypto forwards on exchanges like BitMex and OkCoin. Ya’ gotta know your liquidation rate. How many trades does it take on average before Mex rips your equity? Lol. Seriously.
9. Talked about the idea of: “If everybody is running the same edge, will it still work?” NO! This is why you need to find your style. Don’t do what everyone else is doing. Do what works for you and find your own niche in this business.
10. Covered something very important for new guys to trading to understand about TIMEFRAME. I understand many people want to be day traders. I did myself. I’m just going to leave it at this: Let’s consider 2 hypothetical ends of the spectrum. 1 minute charts and weekly charts. This is a conversation about manipulation. How hard is it for someone to run your stop level on a 1 minute chart vs. a weekly chart? AKA how much money does it take to fuck you over on a $10 move or a $1000 move?
* TLDR; Higher time frames = less manipulation, no risk of margin calls, higher win rates. This is my experience.
LTC Higher Time Frame Confluence of Levels & Signals:
*High to high (from previous cycle top to last cycle top) paints a profit objective of $672 by Jan 3, 2022.
*2013 LTCUSD cycle (from top to bottom and back up to the top) ~1480 days. History doesn’t repeat itself, but it often rhymes. 1480 days from previous $369 top is Jan 3, 2022.
*168% & 200% extension levels to the upside of our current $22.25 - $369 range paints profile objectives between $583 and $715 (we refer to this as the parking garage zone; always painted as blue boxes)
*Chaos theory (4.669 extension) drawn from 2019 high (~$145) down to 2019 low ($35.82) paints a resolution at $548
.. Generally seeing a lot of technical and fundamental reasoning behind a move in to the $500-$700 range within a year or two.
- My vision with this is to help other people find their path in this world. The markets are a valid avenue. They’re always there.. not going anywhere.
- Sometimes people call trading "the one perfect business." No employees. Extremely low overhead. Flexible hours.
- I want to give people the same experience that I got when I learned how to trade the right way. Once you get the bug and you make it work.. you can't really stop.
Feel free to DM me on here if you're interested in joining a discord trading group with fun discussions, free trading educational programs, and great trade ideas being shared throughout the day!
THANKS FOR WATCHING!