CryptoBuzzAnalyst
Long

[LTC-USD] SWING TRADE-BUYING -LTC REBOUNDS QUICKLY!

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Entered in a position at $160.29 but got dumped on. Canceled my stop loss so I wouldn't loose $200. Holdled with a swing trade, which is what this trade was all about anyway. Just didn't think It would dump on me like it did, since I had already bought low after a medium sized correction. But that's LTC for you. It can be more volatile than BTC . But that's what I love about Crypto. The volatility is awesome and the rebounds are freakin AWESOME! (lol)

After a huge dump about -7% down, the market rebounded quickly putting me now at $155.39, ultimately waiting to go full swing ahead and make a profit with a risk reward ratio of about 4. It will take about 4 days to reach the 5th final elliott wave leg of my projected cycle. Using Fib retracement levels I was able to project and model similar past play patterns and behavior for the last two elliott wave cycles as described on this video.

For a moment, I thought there was gonna be a huge massive correction like the one we have been expecting, but thank goodness that didn't happen right now. But it did dump on me! Recovery is underway and I will update this trade if I get at min 20 likes.

Thanks,
CryptoBuzzAnalysis loves ya!

PS: This is not financial advise, this is for education purposes. You must perform your own TA and perform your own risk management above anything else. Protecting your capital is first, making profit is second! That's how I see it! If you loose all your money than you can't play, and ladies and gentlemen this party is just about to get started for this year. Good luck!
Trade active: Wow! This 10% is hurting! What Im concerned about is not so much the negative factor that Im down about $300 bucks.. Im more concerned that LTC broke the trend line channel which indicates bearish signals. That is not good my friends. I think I can kiss any profit goodbye. Ill be lucky enough to break even. It will take days if not at least a week to get back to my entry position of $160.... Out of the last 13 days, all be dam! We get the dam correction on the day I swing trade for a long position. Bad luck for me! Oh! Well. That's crypto for you. Gotta have a tough stomach!

Trade active: LTC is struggling to break the $150.00 Mark with not just one but (two) double tops which completely failed. I believe now that Bitcoin has correction and all major main coins have corrected LTC on its 3rd chance up, will probably break thru $150. Volume from total market cap of $383,208,226,631 has decreased a little ,but this should give buyers who missed the BTC entry of $6700 to get in , therefore making much more attractive for litecoin buyers. Will be hodling this one as a test. I could ladder up , but I want to prove to myself that hodling will work since it’s a bullish sentiment right now! Till the next update!

Thanks CryptobuzzAnalyst,
(Give me a like and join my channel to see how I profit and what I up too everyday)


Trade active: Big pump on both BTC and LTC!! LTC finally on the 3rd attemt broke through the $150 Resistance as I previously stated above this post update! Bullish sentiment is still there despite the fact that the 50 MA broke down and thru the 200 MA. That normally signals a bearish signal. But because the sentiment is still bullish, on the triangle pattern, you can see that it broke upside instead up down! Good for me! I need to get to $160 to break even since it dumped on me 10% down a few days ago! Got caught catching a falling knife on that one! (Lol) Then, I will determine, weather or not I will stay in this position for a small minor profit. After $160, I don't know, it could be risky! I have to perform TA on that scenario!

Trade active: Cup and Handle is a bulllish signal. Price may hit all the way to at least $168 on the 30 MIN chart!I hope it does for my sake! (Lol). It requires more volume and more momentum.

Trade active: LTC may be dipping down slightly more, attempting to finish its final correction leg at C. Then starting a new Elliot wave cycle. Bouncing back up between the 38.20 and 61.80 Fib Retracement level at 1.

It continues to struggle to break the $155 price mark, and hopefully on this 2nd wave it will push through that, making its way to $160 as predicted!

24 hr volume is $347,774,000 USD

Overall since April 11th, for about 10 days, the OBV- On Balance Volume shows increasing buying volume. Taking a halt on April 21st, then leveling out for about 10 days or so as well. We need to see the OBV rise steadily again.

LTC is staying 14 dollars above the 200 MA level. Decisively, in between the 50-100 MA seems to be the middle ground consolidation range for the next few days on LTC.

If it breaks down and thru the heavy support of $141, then it will spell really struggling trouble for LTC. Watch BTC since LTC does not run independently on its own!

Special Note: A falling wedge as you see on this TA indicates a Bullish Reversal Overall. I believe the price of LTC will bounce back up.


PS: This is not financial advice and only for education purposes. Perform your own TA!

If you learned even one thing, then like my TA and follow me to support my channel.

Thanks
CryptoBuzzAnalyst

Trade closed: target reached: $155 was finally broken with the help of whales. LTC is overperforming today BTC and BCC. LTC is on fire today. It is now overbought and a correction is due within 24-48 hrs.

@CryptoBuzzAnalyst update, dude!! Don't worry, it's just money, and it's not so much. For a whisker I would be in the same boat as you for BTC. I was hesitant to enter the market around 7k and waited for the healthy correction at any point, which never came. Above 9k I became increasingly sad for the missed chance, but I said to myself I won't enter the market until a nice correction --at any price, even 15k-- happens. It's the difference in prices BUY and SELL that matters, not the price level you enter the market. And it turned out to be good that I was patient as the market is doing this correction at the moment. Also, your 300 bucks lost in the trade because of the dip would be just fees for the exchange if I would break even for my position. And I trade spot. So, put your pink glasses on. Life is good. P.S. I appreciate your honesty. Every trader can make mistakes from time to time.
+1 Reply
nakov nakov
*to be read: Nice update, dude!!!
Reply
@nakov, Thanks bro, LTC is moving up fairly fast now... It will take a couple of days to break even, or maybe sooner! oh! well... I knew this correction was overdue! 13 days later and it finally arrived. Healthy for crypto! This trade is not over! Lol.... Its just money! life is good! Got caught in the middle of a falling knife! haha!
+2 Reply
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