AvenueWork

Litecoin : But it's different this time

Long
COINBASE:LTCUSD   Litecoin / U.S. Dollar
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

Comment: Lots of fear in LTC. Makes me more bullish. Depending on BTC.D (see other post) we could range ~1 year
Comment: 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.
Comment: 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.
Comment: 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)."
Comment:
Comment: Added bag here
Comment:
Trade closed: target reached

Comments

If btc drops too 25k do you think Alts will correct hard or bitcoin dominance will keep falling? Im assuming you are bullish alts if you are buying this
+3 Reply
AvenueWork ali7861
@ali7861, Please refer to BTC chart here
+3 Reply
I don't see the quick recovery in 2017. It took 10 weeks to get back to the pre-crash prices. Unless you believe that's a quick recovery. If not, what were you referring to? Or do you believe this recovery to be quicker?
+3 Reply
AvenueWork moonsie
+1 Reply
nice chrt
+1 Reply
AvenueWork Litjones707
+1 Reply
Shard730 AvenueWork
@AvenueWork, two questions!!!,

lol do you know the reason why I can't talk in the chat. its not letting me, is it cause I'm on the trailer plan and not the paid one? and ALSOOO!!!!!
could I dm you to look over my chart analysis??
Reply
Nice chart brother. My average is 158 and LTC hasn't make an ATH for a while since 2017. It is almost his time to shine. We can just wait it out.
+1 Reply
Litjones707 StoProphet
+1 Reply
see ya at 1k!
+1 Reply