I have been following @botje11 and @MagicPoopCannon for the past year and they do some great predictions. As with everything, there is not much of a science to it, its more of a black art in chart reading! Sometimes you get it, sometimes you dont! It's funny to read the comments on people loving / hating all the predictions that go into crypto trading!
However, I have been following LTCBITFINEX:LTCUSD for a while and wanted to publish my chart. We have a few ascending triangles and a few other things that are starting to form here. Hopefully if my picture pans out you can see the Micro and Macro of this chart to understand the full picture. I suspect we will continue to descend until around December 15th-20th and should start to see a rebound around Christmas / New years. With the news of Bakkt coming on board, along with some EFT's and other institutional trading coming into play the first quarter to first half of 2019, it should be a real game changer.
I'll keep keep updating this post for a while to track the results, but it looks like LTC should bottom out around 26.xx ish before rising backup again. I have set in a buy order every 50 cents from 27.50 to 26.50 to attempt to capitalize on the movement.
Happy Trading and don't forget, do your own research, follow your instincts and don't follow the norm- Define the norm!
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So looks like we had an "inverted bart" pattern over night, however we are still trading within the descending channel as shown here in the chart.
There is 1 of 2 possibilities from this formation. As you guessed it! Up or down..
Let's see where this brings us in the next few hours and I'll be sure to post another update soon
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Ok looks like a Bart Chart move working its magic again! I wish I could insert images from outside of trading view, but either I am missing something or its just not supported..
We should dip back down into the 29.xx range here in the next 2-5 hours!
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So looks like we are on target to keep dropping!
Here is an updated screen shot from my previous update!
Just a few more hours to go and we will see where we land from there!
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Looks like I was just a few hours off! in my prediction, but I am starting to notice a pattern here. Things are happening every 10-11 hrs and every 22-23 hours
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As you can see from my previous post I have not changed the lines that I projected would happen and its pretty spot on just a few hours off!
I think we will see some major movement here in the next 8-12 days (just before the 1 year anniversary of the December 21-22 2017 crash of bitcoin. If this Bull flag is forming like I think it is, we could easily see a shot up around this time!
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Zoomed out 1 day chart view of the pattern that not to many seem to recognize. [img][/img]
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So we just broke though the descending channel pattern that has been setup here for a while now... Next Stop - LTC ~24ish BTC - 34xx ish!
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We are still on track to keep moving towards our goal of $24.50-ish!
We just went though another big drop this morning - until 9:15pm ET tonight for the next drop! We should be able to reach around 26.75ish tonight and a quick bounce back up of 50 cents or so before leveling out.
Happy trading!
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Ugh I keep commenting vs updating the idea! Ha I'll learn one of these days!
Looks like we hit the $25.21 mark!
We have a little more to go potentially but the bottom should be around 24.80ish IF - IF we make it though $25.
Here it is updated on the chart to keep tracking it!
It should bounce back up here slightly until December 18th when it breaks out the top and WATCH OUT! :-D
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Currently it looks like we are in a "Capitulation" mode at the moment which is the last stage of investor movement.
Per Investopia: What is Capitulation: Capitulation is when investors give up any previous gains in any security or market by selling their positions during periods of declines. Capitulation can happen at any time, but typically happens during high volume trading and extended declines for securities. A market correction or bear market often leads investors to capitulate or panic sell. The term is a derived from a military term which refers to surrender.
There is also a great article that describes this in more detail on the stages of this bear market and what has happened since Dec of last year.
I am not sure how long this Capitulation will last- but I am thinking at the end of December first part of January we should see some magic happening... (My date is December 18-25th from what I am projecting.
So far we have move along quite nicely along this path as you can see.
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Looks like we are right on track with my analysis! [img][/img]
We just breached and bounced off the top line
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HO HO HO looks like we should have a Merry Christmas here this year! [img][/img]
Looks like we just broke out of that massive descending triangle that I did prediction here about a week back!
Looks like 2019 should be interesting for Cryptocurrency! 1. Bakkat will be launching products to bring in their institutional investors Jan 24th 2. Fidelity / Charles Schwab etc - entering the crypto market Q1 of 2019 3. SEC makes their official ruling Feb 24th on trading And now this! Chief of Staff that was picked is a bit proponent of Crypto and should start putting the word in with the SEC and others to start approving crypto trading here in Feb (Fingers crossed!)
Next up... We should start to see a slow movement up over the next month or two towards the previous high of ~$410 ish for LTC then up to my target to ~$950 to $1100 by the middle / end of the year of 2019!
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HO HO HO looks like we should have a Merry Christmas here this year! [img][/img]
Looks like we just broke out of that massive descending triangle that I did prediction here about a week back!
Looks like 2019 should be interesting for Cryptocurrency! 1. Bakkat will be launching products to bring in their institutional investors Jan 24th 2. Fidelity / Charles Schwab etc - entering the crypto market Q1 of 2019 3. SEC makes their official ruling Feb 24th on trading And now this! Chief of Staff that was picked is a bit proponent of Crypto and should start putting the word in with the SEC and others to start approving crypto trading here in Feb (Fingers crossed!)
Next up... We should start to see a slow movement up over the next month or two towards the previous high of ~$410 ish for LTC then up to my target to ~$950 to $1100 by the middle / end of the year of 2019!
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So here is the final update! Looks like I was officially just a few days late in my prediction!
We have a little more to go potentially but the bottom should be around 24.80ish IF - IF we make it though $25.
Here it is updated on the chart to keep tracking it!
It should bounce back up here slightly until December 18th when it breaks out the top and WATCH OUT! :-D
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supergoh
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@EnigmaMan, is your 18 Dec breakout still possible?
EnigmaMan
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@supergoh, Potentially, its a crap shoot at this point. if history repeats its self, then there is a high chance. Take a look at the sell orders on coinbase etc, there is very low sell orders which could cause it to start and break out. I'll post an update here shortly!
EnigmaMan
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We are still on track to keep moving towards our goal of $24.50-ish!
We just went though another big drop this morning - until 9:15pm ET tonight for the next drop!
We should be able to reach around 26.75ish tonight and a quick bounce back up of 50 cents or so before leveling out.
Happy trading!
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majorlee
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EnigmaMan
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@majorlee, I have been noticing the exact same thing!!! This pattern that keeps happening every 11-23 hours as well
This was my projection earlier today...
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And this is my projection between now and December 22ish which is exactly 1 year from when bitcoin started its initial crash
Here it is using the 1 hr chart... It has been falling absolutely perfectly for the past 3 months!
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Thoughts?
majorlee
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@EnigmaMan, id put it down to bots and algo trading, its a bit of a stab in the dark mind you
We have a little more to go potentially but the bottom should be around 24.80ish IF - IF we make it though $25.
Here it is updated on the chart to keep tracking it!
It should bounce back up here slightly until December 18th when it breaks out the top and WATCH OUT! :-D
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