SecludedJ

Litecoin is heading to $160

BITTREX:LTCUSDT   Litecoin / Tether
Hello!

I hope you all have been surviving well during this Bitcoin             6.92% pullback. Not to fret, that should be wrapping up soon and we should be on our way to a nice little bull run!

In regards to Litecoin, it appears we have a different story unfolding here. Litecoin has completed a 1-2-3-4-5 wave up, and is now finishing up the B wave of an A-B-C correction. As a matter of fact, it appears Litecoin has already begun the C wave leg down.

When Litecoin performs these pull backs, you can go through the history of the charts and see that it's favorite place to pull back to in a B wave is 70.2% of the A wave. Which we have achieved. So, onward to $160!

Good luck!

As always: Trade with education. And, trade at your own risk. Your failures are not my responsibility :)

-SecludedJ
Comment: Two things:

1. I don't know why it has the "Bitcoin 6.92%" in there, it shouldn't have the 6.92%.

2. This trade still seems valid. And the sentiment in TradingView for Litecoin is "Strong Buy" according to the trading view sentiment gauge thing. There are 16 "buys", 8 "neutrals" and 1 "Sell". Wow!

I can see that there is very little agreement with this view I have, which shows there is strong sentiment to hodl with Litecoin. However, that doesn't really matter to big investors. Always remember, 90% of the market is owned by 10% of the investors. Compile the remaining 90% of the people in the market and they only make up 10% of the money in the market. Sometimes you opinion and love for a specific coin does not matter when it comes to the price of it.

But this chart clearly says it's going down to me.

I strongly believe Litecoin will complete a retracement to $300. However, I'm not seeing that happening right now without visiting $160 first, then we can determine when that will happen.
Comment: We just hit $166, we are getting close to target. Looking for big bounce at $158-161.
Comment: Target hit, perfectly. Up we go! This is the last update for this idea.
Trade closed: target reached
Nice call dude, have been following this one. What's your thoughts on btc? My 4hour is saying reversal, 1hour bounced on the 25ema so who knows.
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SecludedJ XanderCrypto
@XanderCrypto, We are in a dangerous market, and it's not possible to read it right now. There are areas to watch for, but there is nothing signaling a reversal anywhere at this point. Our bounce was weak, we have gotten rejected very hard by $9,500. We are just looking ugly. We could very well pull a surprise and shoot up, or go straight down. I haven't posted any updated ideas because I don't see a clear trading opportunity. It's pretty messy right now.
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After looking this over, one alternative I'm looking for is a rejection at $11,200-$11,400, with a pullback to around $9,900-$10,100. If we find support there at $9,900, I would strongly believe that's it, we are done going down, and it's time to run to $17,000 over the next two months.
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SecludedJ SecludedJ
oops. I posted this in the litecoin chart. Meant to put this with the bitcoin chart.
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I posted an Idea as well I agree, I see a possibility of some downward movement coming maybe short term my info is from their MA's
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I can see Litecoin going back to 107 dollars or even going under $100 in a specific moment.
You know how cryptocoins like touching deep floors. Like when I was holding NEO and went from $35 to $3 in a day...
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I haven't seen your other comments below, but just what I said before... Bag hoDlers trying it to go up again and sell what they bought when it was so high.

Greetings! ;)
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This is the BEST analysis I've seen. All people saying it's going up and I can see it's going down again.
If you see the 1-day chart, it's super clear the A,B,C is taking place.

- A, done.
- B, nearly finishing.
- C, about to come.

Why are people trying to lie? Are they hoping people to buy more and leave their bags to others???

I don't get it..

Thank you for your honest idea. I was looking for an idea like mine.

Have a nice day. ;)
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It is the same idea in my opinion, because the litepay hype had pumped the coin tooo high in the bear market, now it is time to sell the hype and get back to bottom and gain momentum, go $160
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SecludedJ PhillipLiang
@PhillipLiang, Yes, there are a lot of bag holders on this coin and a lot of sentiment with Litecoin. It's usually not favorable to post a "it's going down" chart when all the content marketers are posting it's going up. However, it's pretty clear to me. It's going down.
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