CryptoCoinSolutions

CryptoCoinSolutions

I'm looking at the increasing elevation of these red lines, they are the retraces which are becoming less aggressive.

CryptoCoinSolutions

So this rally above the gap, (after the retrace below the gap, and the filling of the gap), and now this rally is not retracing aggressively. People want in, new buyers, market orders, "Just Get Me In" ... make them sell, chase the ask up, just get me in to start this year. Maybe that's what is happening. All of this is contrary to the notion we must correct...

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Observations only of the behavior seen following the gap. Just before the break to the upside, (off the top of the gap), (which may confirm that this is not an exhaustion gap), with some saying it is a "bear rally" which portends movement that will facilitate a strong correction desired at the top of a B reversal to the larger correction, we can see trading on...

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Looks to be some consolidation in the lower part of the gap and this is somewhat, short term neutral, I expect to break the bottom of the gap once again, and if a higher low is put in, then the next trading that attempts to fill the gap, and break resistance at the top of the gap would be more probable.

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The 30M period which retraced, (corrected), completely through the gap on its way down, (red arrow, and that red candle is the same period as the gap), is not a filling of the gap. A rally up through a gap is the filling of the gap, and we see the first attempt fails, and what kind of new resistance level or consolidation we see to resolve the failed attempt to...

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If you do not have one, then don't think for a second Ron will give you one, his spare Tin Foil hat is already on loan to me, and I ain't givin' it up. The first GAP noted is an "exhaustion gap", a gap up to a top ... the issue pulls back, and retraces under the gap and rallies through, it pulls back a second time and reconfirms the rally through and we know what...

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LTC retraces to "fill the gap".

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I've drawn a trendline from the bottom of the gap up in trading on this time period where the bid crossed up over the ask. Traders then retraced below that gap up, and filled that gap with an aggressive rally, and they did that again, filled it twice, re-confirmed the filling of the gap with rally. So we see a runaway gap up at that point. This second gap up...

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Just bringing some attention to these gaps up, and that the first gap up we see, pre parabolic rally, is at the current lowest low, the reversal on reverse head and shoulders. Coming out of a sideways tightly constricted channel, with upper pressure on the channel, we see another gap up in the same time period.

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BTC last to rally, LTC leads the BTC rally, and the "Alt Train Pump" on btc-e foreshadows the general bullish uptrend in the markets. 23.53 seemed like a good place to enter.

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Is LTC overbought?

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I've used the fib circles just to point out that these two areas are quite similar in shape and form and can show us that similar trading patterns exist in these two areas, these two "tops", which are quite different from the previous trading patterns in the previous two tops. It is my opinion we are continuing to watch the resolution of the "BIG M" chart pattern....

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Using the last series of LTC/USD highs, markng an end of the $9.119 reversal rally, rolling over ... we could consider this to be a fourth top. And it lines up well with the overall descending trend. This fourth top is nearly a descending triangle, or a descending wedge. Nobody is surprised at this, it seems totally natural on the larger scale. When we compare...

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So we see the HS on the 15M, it's resolution down, and bouncing into a nearly perfect Day Cup with retracing handle. With technicals still bearish, this cup on a Friday, with FUD abounding from China, has little chance for buyers to grab the handle and rally. All the same, it shows continued efforts from the bulls and the day traders seeking that extra bit of...

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More often than not, (especially at the tops of rallies confirming reversals), we see LTC correct on weekends. We approach the weekend in just this market state of affairs. The weekend warrior coming onboard sees only the top, and this classic, textbook HS on the time period that proves with some tuning to be the most predictive for day trading Litecoin, LTCUSD,...

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After setting the most recent Litecoin low at $9.119, (Post $48 highs), Litecoin draws a poorly formed inverse head and shoulders at the bottom and reverses. This low marks the first oscillation of the LTC spot below the NVC spot, (while NVC was in recovery rally). Novacoin typically has out performed LTC after corrections, and LTC has consistently passed NVC as...