UncannyDeduction

LITECOIN - going to get slaughtered

Short
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
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10
Can't believe I didn't see this. Litecoin is going to get slaughtered.
Comment: It's a f#cking perfect symmetry going on...
Comment: Redid the chart cause I wasn't happy about it.
Added some really old trend lines .

Still bearish ...

Comment: I redid it again. Not posting here. This is a hard one. The problem is that there is multiple perspectives with the came center point for the Fibonacci circle set, resulting in slightly different versions.

$38.0 should be a buying opportunity though.
Comment: If you bought at 38 you are right now in profit.
Comment: Recap, this is how the crash looked...

Comment: Litecoin looks stable.

Comment: Why do you care about the short term trend in Litecoin, when the long term downward trend looks so dangerous? It's scary in my opinion. Keep a safe distance from this. It being neutral right now doesn't mean safe.

Comment: Buy at $23
Comment: Finding new patterns, optimism next year.
But first one more crash, I hope for.
Buy at $23.5

Comments

Another delusional unrealistic bearish LTC idea.
+1 Reply
imos MertB
@MertB, these charts make me laugh when I see them.
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@MertB, Not sure if you're a troll or a noob, but you're dead wrong, bud. W5 was just completed. I'd suggest doing your homework and looking at more charts than just the 5-minute. Otherwise, your losses will be staggering.
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MertB wallstreetwise
@wallstreetwise, Explain how we would go to 12.67 from these levels. It's completely illogical based off the fundamentals.
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@MertB, I wouldn't bet it to go down that much. I consider it merely as a point of attraction.
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Yepp, LTC is finishing up a dumpling top. Not super common, but it's great for feasting if you catch it at the right time.
+1 Reply
UncannyDeduction wallstreetwise
@wallstreetwise, But it seemed so stable and confident whilst Bitcoin and Ethereum looked weak earlier. This chart tells a completely different story about its stability...
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wallstreetwise UncannyDeduction
@UncannyDeduction, If you compare the charts, all three are actually on the same trajectory. Fascinating to watch. But, I will say this: even though the forecast is bearish, it is fairly stable and predictable.

You have to keep in mind that we raced to the top very fast. So, I'm not at all surprised by the potential magnitude of this correction. And, since W5 was just completed, we're going to experience some turbulence for awhile.

That said, I'm very confident this correction will refuel the markets for a strong bullish recovery.
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Fibonacci is quite magic. Thanks again for sharing your analysis.
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in september ends? impossible... sorry...
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