EricJGoforth

EricJGoforth Updated 

So LTC challenged its April 5 high of 12.75 this morning and was poised to continue the trend (although we prefer it just stays in the middle for long term longs); however, the BFX news sparked a run on BTC. As a side note, I will publish my actual thoughts on the BTC movement in a little while (in short, it is NO big deal....). But money has to be somewhere;...

EricJGoforth

This morning I was in the middle of writing an update on my BTC views; when the twitter announcement came out the BFX had to halt deposits. Here is what I was ABOUT to say (in short): --- Hey, BTC has refused to traceback to the initial decline; and in fact has refused on 3 occasions to retrace to even 50% of any previous in the past 4 tries. Combined with the...

EricJGoforth

LTC broke from tradition quite a bit; by not slowly giving back a long 4 hour pump. Taking 5 days; it has settled perfectly in the middle of this current up channel; even managing to stay off a possible down turn in a squeeze. A defined channel with a top that has been tested 5 times, a bottom that has ben tested 5 times and a clear need to remain cleanly in the...

EricJGoforth

LTC is doing what it does so very well; be predictable. Patience and long runs are the key to this current Bull run. It continues to resist new low lows in this current channel. Each Pennant or Tri test shows that it is very Bear resistant. And now, early signs of a topside squeeze in the channel give great hopes that this trend will continue for the next...

EricJGoforth

Well, we can only hope right? My last post talked about how we were REALLY hoping to hit that red squeeze channel in the last up trend. Well, it didn't. But that's ok, now we know what is going to happen. Sit back and relax for a few days and enjoy the opportunity to build your BTC holdings.

EricJGoforth

Remember that squeeze channel we used to know EXACTLY when we are going to fall out? Yeah; the red one. That set the large down trend channel of course. We found our bottom; and as we suspected, it was within about $4 (just happened faster then we thought). So of course the interim up happened. Now, check this out! Notice that the interim Up, and the current...

EricJGoforth

I hate conspiracies; they are rarely EVER true. I hate rumors (they jack up my channels). But I do want to point out something that probably will fall into both of those categories... and for that I apologize and emphasize that I have NO idea if this is true. That being said, this is too interesting not to at least consider. 0.00002850 seems to be some sort...

EricJGoforth

As we watched the pinch taking place over the past 2 weeks, we knew a decicion was eminent. The moment it fell out of the interim channel; the big dump happened. Seriously, like within 5 minutes. That of course set the downtrend. We have yet to find the bottom and the interim channel drawn in the down channel is purely speculation; however, we do know that it...

EricJGoforth

LTC has been in the spotlight lately; and although I generally think it falls into the same space as any oter Alt (dead in the long run); it never hurts to know when to ride or bail. A very well defined up channel has been setup with plenty of validation; over a number of days. As with ALL LTC pumps; they always fall into a nice slow and predictable downtrend;...