LastBattle

Potential second breakout for Litecoin..

BTCE:LTCUSD   None
We had a potential breakout for Litecoin previously, with a retracement of less than 20%. We should have another rally above $7.4 but was failed due to the declining BTC price causing a sell pressure on LTC.
As of now needs to overcome this falling channel before it can breakout above $7 to $7.1 again.

* StochRSI is swinging to the bullish side.
* Relative Momentum Index is picking up
* RSI is bullish

Good chance that we 'might' see it within the next few hours since we are pretty close to the $6.805 support* unless that breaks too.

Comments



Still holding...
+1 Reply
HerSerenity LastBattle
If 3 double bottoms don't help the fourth won't do the job either :P especially with BTC dropping and the LTCBTC cycle still having 2 days to go (down?).
Reply
LastBattle HerSerenity
Yeah... LTC is strongly tied to BTC.
If it goes below 6.7 I will probably do a stop loss already...
+1 Reply
LastBattle HerSerenity
Lol crap, this panic is happening way too sudden without any negative. I can hardly sell 8k LTC in BTCChina with this orderbook without dumping it below 30 CNY.

I'm holding back from selling now... panic buy in a few hours.
+1 Reply
HerSerenity LastBattle
Right now last resort at 41.20: cycle lines for LTC and BTC positive, 2 outer Schiffs reached, bottom of downtrend channel.. only a madman would stop here :D
Reply
LastBattle HerSerenity


Nice, we bounced off the bottom support.
I'll keep looking out for this one :)
+1 Reply
HerSerenity LastBattle
I'd say nightly correction rally to 42.50 eating through thik asks, getting stopped by morning dump. Analysis right out of my gut
Reply
LastBattle HerSerenity


Well yeah, BTC ruined this again... anyway, managed to sell 30% at 42.2+
+1 Reply
HerSerenity LastBattle
Sheesh, why BTCC if I may ask? Was able to short another 5k into 41.50 after next impulse wave got confirmed by BTC
Reply
LastBattle HerSerenity
I'll be switching away soon, the orderbook is relatively thin although Bobbly Lee is legit.
I can only transfer out 400 LTCs/10 BTC daily at the moment since I can't remember the secret question I set on registration.

Perhaps moving over to Huobi, Okcoin's volume make me worry about the exchange's legitimately if they are real.
+1 Reply
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