Hey everyone, it's been an interesting start to 2018 lol.... Add some bloody trading days, misinformation, FUD from world governements, crypto-celebrities and what I only could describe as possible "provoc saboteurs". Saboteurs have been used for thousands of years and their hired influence shows how one person or small group can change peoples perspective en masse, disrupt and disband movements with violence or speech, bring down regimes and so on. I'm not saying because i'm paranoid or for any political reasons, it's the natural reaction to ideas that change the world. Simply a reminder to be careful with the information you receive and perceive. I have no doubt there are those out there whose want to disrupt cryptocurrencies. I don't mean a fellow trader shilling their coin. The ones saying it has no future, no place and no value are the ones to wary of. History shows time and time again, people will go to great lengths to prevent and disrupt things that aren't good for whatever they control or represent, which is the present state of things.
Litecoin has always been of my favorite coins. For payment sending, transaction fees, and overall steadiness of price through market turbulence. The price has changed over time but it does not fluctuate so wildly as BTC. As the bears leave and bulls start to return this year I see massive gains for LTC. it has a circulating supply of 55,051,508 compared to Bitcoins 16,843,225 circulating supply. Worth mentioning is that it's a fork of Bitcoin,if you didn't know. Maybe you've been wondering like me why hasn't LTC caught on yet? I don't know for sure but I believe marketing and lack of knowing the improvements upon BTC's core code play a role. Maybe more importantly though, Bitcoin came first. Bag holders are die hards and proponents for $100k BTC, naturally they would be, they want your money, they need someone to sell to eventually, right? ;) but... but.. "lightning network bro, gonna change the whole game bro!" haha... maybe it will, I don't think it's enough though IMO... LN should have been done years ago. Maybe you've thought the same... Why would devs in communication (maybe cahoots) with miners, (or maybe at the mercy of,) want to keep BTC blocksize small? knowing the congestion would get worse, delivery times longer becoming days, fees getting more ridiculous each minute, and in turn cranking up the value. Who benefits from fees? ....Greed knows who it is... So if BTC were increased to 8 megabyte blocks from 1 megabyte, it would solve these irritations=MUCH lower fees, transaction times would be minutes, overall price would drop.... Although I'm making assumptions about the relations of devs and miners, I did so knowing the factual problems BTC faces, could fix, but does not.
OK. ok... i'm done venting haha here we go for real.... LTC has all the right stuff to be worth far more than it is currently, 2018 will be a good year... On the chart you'll see several EMA lines all tuned to represent different strength of support/resistance levels.... There isn't enough evidence to conclude that we are in a new up trend on 4hr chart... regardless there's money to be made. The ghost bars you see are a general idea of possible movement I see based on what's been happening. MACD is doing weekly crossover on 4hr candles, under zero-sum line but may likely cross in next days. $200 is very possible in the next week or so. Good Luck!
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Wow this is moving much faster than I anticipated. But what goes up must come down and the faster up the harder down. watch the volume and use stop loss.
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Trade still active. Following my estimated pattern nicely. Watch for daily price swings to buy low/ sell high.
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I see too many people panicking and simply selling because they don't know any better.... Let me be clear.. sell if you want to but if you do so at a loss that's on you. My idea is on track in my eyes. The ghost pattern isn't supposed to be candle for candle perfect, how could I predict that? I can't, no one could..... This game is all about patience, and those who have it win. Now is the time to accumulate more LTC
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5 more days until my target date of February 12th for $200. Very optimistic about this target still. Not gonna use ghost bars anymore lol I didn't think I could possibly predict the candle pattern I just wanted to try something new, not a fan though, it's more confusing I think than anything else
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Still believer Litecoin will be one of the biggest gains this year. Unfortunately $200 won't be met by Feb. 12th.... Too many sellers and not enough buyers, simple as that. I'm still holding though, may sell to buy in lower but will have to wait for confirmation. An example of something that had all the right ingredients to come to fruition, lack of buyers dude to market sentiment did not help.
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Sorry about the lack of update i've bee busy with real life! Trading active with LTC and i'm pleasantly surprised with how my goal was met literally overnight recently, I couldn't be happier! Cheers to everyone that made a lot of money during this run! Hope to see another high today/tomorrow. With so much momentum and FOMO I think it's conceivable to see 400 again soon! Stay tuned and happy trading!