Currently long from 171. Any dips are a reason to buy IMO. Not sure how high this will go but first targets are near ~900. I'm sure Litecoin's long sideways movements over the years caused many to forget about this giant, pushing it to 13th on the mcap. But not me. I'm a bulliever in this coin and the technicals are there to justify.
Technicals : Thus far Litecoin is maintaining the 2019 pivot high and the weekly 200 MA. Yes we bled hard but take note of the 2017 fractal: the bleed out was much worse but price quickly recovered. Watch for similar price action or consolidation at these higher levels, threatening another stab at ATH. Price has rejected perfectly off of 25% of current median, and has come to a rest on 75%. These are areas of reactions in the market so don't let them pass you by. I see this as being in a 4th wave like most of the market. At this stage, dips are for buying NOT selling.
Position 1 : Long from 171 (avg fills)
Position 2 : TBD
Target : Minimum 850
Technicals : Thus far Litecoin is maintaining the 2019 pivot high and the weekly 200 MA. Yes we bled hard but take note of the 2017 fractal: the bleed out was much worse but price quickly recovered. Watch for similar price action or consolidation at these higher levels, threatening another stab at ATH. Price has rejected perfectly off of 25% of current median, and has come to a rest on 75%. These are areas of reactions in the market so don't let them pass you by. I see this as being in a 4th wave like most of the market. At this stage, dips are for buying NOT selling.
Position 1 : Long from 171 (avg fills)
Position 2 : TBD
Target : Minimum 850
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Lots of fear in LTC. Makes me more bullish. Depending on BTC.D (see other post) we could range ~1 year
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2 Add filled at ~123.50 - this brings my avg buys to 147.50. I am happy with this number. I believe we wont see LTC sub 40s anymore and LTC will establish a new market structure above 80/90.
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Would like to see LTC get back over the 4 hour 200 within the next few days. But so far so good on the bounce.
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A wise man once said : "It's the 5th dump of this scale in $LTC's history.
Out of the 4 previous times it happened, it was the bottom 3 times, and the 4th time (green arrow at the beginning of 2018 bear market) we still had a 0.618 retracement (130% pump)."
Out of the 4 previous times it happened, it was the bottom 3 times, and the 4th time (green arrow at the beginning of 2018 bear market) we still had a 0.618 retracement (130% pump)."
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Added bag here
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Trade closed: target reached
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Quick LTC/BTC Update. Monthly
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I realize this TA is invalid. Charles Hoskinson says TA DOES NOT WORK. So closing post and turning this over to @moonsie
See post below 👇
See post below 👇
Trade active
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Nice invalidation. External to Internal 🙂
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I'll get some new charts worked on for LTC. Will assess the upside after break of these levels...