I'm not Bull Biased; nor am I bear biased. I AM INDICATOR BIASED. I'm showing you a Chart to Tell You The News; Rather Than Showing News to Fit a Chart. I look for patterns within indicators to FIND THE PERSONALITY of each pair in relation to the indicators. Yes, we may have a DIP coming soon. Will we have a dump to result in us going down significantly below my FIB at $6,149? I have a hard time seeing us going far below $6,149 to $5,200 as some are saying. Is it possible? Sure... that would be a hell of a shake-out. However, if it did that, I would anticipate a HUGE PUSH UPWARD shortly afterward.
I personally do not think it will go that low to allow those looking to take margin long positions an excellent position. I don't see that occurring to allow those currently in margin short positions to make that much significant profit. I'm anticipating a shake-out with a downward push to spook our current margin long contracts on BitFinex into closing their position WHILE lulling in more margin short positions to liquidate shortly afterward. We currently have margin short positions increasing on BitFinex.
Compare the white circles (present day) with the white circles in November, 2017. BTCUSD price; short contract amounts and long contract amounts are at very similar levels (present day) as we were back in 2017. If you couple that with what we are seeing in the indicators and the LiteCoin block halving approaching, I can see a similar scenario playing out again. However, I do not anticipate we go up to $19,666 by first week of July like we did in December, 2017.
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I respectfully give this gentleman props for his publication posted first week of September, 2018 before we dumped first week of November, 2018.
His most recent publication shows a significant drop on wave 3 of 5 to $5,200:
I must respectfully disagree with this analysis. Not because I'm bull biased; but because I'm "indicator biased." I certainly APPRECIATE analysis like this because it challenges me to have a second or third look at my own analysis. If we are not challenged, we are NOT growing in our analysis. I want to encourage you to follow the analysis of other traders as well to gather all the information you can to make the best decision you can in respect to your investment(s). No Trader is correct 100% of the time. NO ONE...
So, please have a look at publications of others to challenge your own analysis that you may grow as a trader. If we are not challenged, we are NOT growing. Also use the analysis provided by others to consider what safeguards you should put in place in case the price action does not play out as anticipated.
I do anticipate downward pressure for a bit longer before we continue with a magnificent bull run to the last week of June or first week of July. The current downward pressure we are experiencing may be only a shakeout (bear trap) before this bull run begins.
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I must say, from what I'm seeing with ETHUSD and LTCUSD; I have a hard time seeing BTCUSD going into a third wave of five waves for an extended bear market.
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If you are curious what the LTCBTC "VALUE" may be by the last week of June, 2019 to first week of July, 2019, here is a table to use:
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I will provide a video publication for LTCBTC some time this evening or tomorrow. More than likely this evening but there's no rush. Still plenty of time and room for it to go upward.
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If you want to compare BTCUSD chart and LTCUSD chart for POSSIBLE price range for LTCBTC:
The one you have on the chart is the correct one (Godmode 3.1 Mod with LSMA (LTCUSD).
Here's an IMPORTANT NOTE from the last post in comments section of a publication I made for Godmode:
Godmode 3.1 Mod with LSMA (LTCUSD) has an option in "Format" under the "Inputs" tab for "Multi-Exchange." Which see: i.imgur.com/FWSbBP4.png
Godmode 3.1 Mod with LSMA (LTCUSD) Source Code will monitor data from four (4) Exchanges within its code in the event you "check" the "Multi-Exchange" box. Those four (4) exchanges are "COINBASE: LTCUSD" "BITFINEX: LTCUSD" "BTCE: LTCUSD" and "BITSTAMP: LTCUSD." Which see on line 11 and 12 of the source code: i.imgur.com/ZqbAqyt.png
The ONLY time you "check" the "Multi-Exchange" box is WHEN you are using this indicator (Godmode 3.1 Mod with LSMA) for "LTCUSD" ONLY. It's STRONGLY RECOMMENDED "NOT" TO CHECK THE "MULTI-EXCHANGE" BOX WHEN USING THIS INDICATOR FOR ANYTHING ELSE OTHER THAN "LTCUSD."
However, I recommend NEVER checking the "Multi-Exchange" box even when using it for LTCUSD. WHY? Because one of the four (4) exchanges it monitors data is "BTCE." Well, "BTCE" is no longer in existence (dead). Which means you would be monitoring only 3 of the 4 exchanges. If you want, you can COPY the source code and paste it into a new indicator you create and EDIT line 12 of the code by changing "BTCE" to "BINANCE." THEN you could use "Multi-Exchange" for LTCUSD more effectively. However, make sure to UN-CHECK the "Multi-Exchange" box when using your NEW indicator to monitor any other pair other than LTCUSD.
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@ProwdClown, Thanks I will try it out. I can't wait how this year's halving will try out. Last halving LTC/BTC pair pumped to 0.03++ and above but I don't think this year it will pump that high since BTC itself pumped fairly big this time. What do you think of that? I will try to close my long beyond 0.018 and maybe my last position close to 0.025btc per ltc
I haven't looked at LTCBTC pair in a while. I mainly trade USD and USDT pairs to have myself in a better position to protect my USD capital. I only trade alt/btc pairs if the alt coin is not offered for trade in USD or USDT.
I may provide an LTCBTC publication in the next day or two with my thoughts on where it may be going.