This is more of an observation rather than a prediction. While everyone was calling for the bull run after LTC broke the upper triangle trend line, I was hesitant to jump on the band wagon. The reason was, I wasn't comfortable that the formation was finalized. We have never seen any of the cryptos jump out of a bearish slide to move straight into a bull market....
This isn't a prediction, it's an observation. It's a continuation of my previous idea. Last week I thought LTC was going to correct all the way down to the triangle top, and then bounce hard. I also said that if it failed to bounce on that line, it would probably take a nose dive. Today we are all sitting and waiting on the news from the SEC regarding Ethereum,...
As I usually do, this chart analysis is as simple as it gets. No crazy scribbled up lines and geometric shapes cluttering the screen are necessary. There is a downward channel making a flag formation from the high point after the breakout. The line you see is the top line of the massive triangle LTC has been forming over the past several months. Since we have...
Forget all of the mess of lines and statistical analysis, let's just keep this super-simple. I am still not convinced that we are in a bull market. I have never seen in the charts a situation where a bull market rises up out of the ashes straight out of a bear market, without an accumulation/consolidation period. I could be wrong, and this could be the first time...
For the past month, I've noticed several investors calling for the end of the bear market and signaling LTC to moon shot. While I am definitely still "long" on Litecoin, I think we have to realize that we are still trading in the secondary tight downtrend channel. Looking at this chart any closer than a 4-hour candle is dangerous. We have been getting head-faked...
We are definitely not out of the bear market. It sure looks like we are stuck within this new downward channel. And from the looks of the Stochastic today, I think the downward action will begin. This is my best guess of what will happen, not trading advice. Anything can happen, and LTC has CONSISTENTLY made a fool out of me. That being said, here is what I...
LTC has just completed a perfect McDonald's Golden Arches formation, as you can see in the chart. This is a DEFINITE signal for hot french fries, a quarter pounder with cheese, and even a large coffee. The situation could get salty very quick. But the addition of a sesame seed bun, with special sauce oscillations, and we're looking a Big Mac dead in the eye. Don't...
I was charting this all day. I was so confident in this formation that I almost posted an idea and recommended this as a great buying opportunity with the pennant formation showing so nicely, and the volume spike that went with it. Well as we can see, we didn't even make it to the point of this pennant and it broke out... first through the top, and then...
I drew this chart about 5 hours ago, and I was going to post an idea stating that I believed the breakout to be close, possibly within the next 24 to 48 hours. As we can see, the breakout happened with no advanced warning, and it didn't happen at the vortex of the flag formation. This presents a very important lesson that we should all pay CLOSE attention to. LTC...
Well I'm convinced we're in a bull market... almost, anyway! If you consider the 2-month downward channel as the extent of the bear market, then we are more than likely done with that trend. I have a LOT more success in predicting breakout points in a bull market than in a bear market. I guess that makes me a half-___'d prognosticator. I've noticed that...
I am pulling this out of my rear end, and I don't claim to be an expert. Nor do I claim to have 100% accuracy on my predictions, unlike *SOME* certain long-term technical analysis prognosticators who's userID's might reference feces. But we'll leave that alone for now. There's another flag forming here. This one has a different bottom slope. It's not as steep as...
I am fairly convinced that we are in a REAL bullish channel now. I jumped off the ship at $144, spooked and nervous, thinking we were about to dive down to sub-$100 levels. ALL of the prognosticators who called for $60 and $70 level final correction were DEAD WRONG. That proves one thing: NOBODY can call this market with 100% accuracy, and you better take these...
I'm watching very closely at the 15-minute bars to see if we can continue to gain on the $150 level. If LTC continues to show higher lows on this level, there's a chance it will gain towards $190. I still think we are in the overall downward channel. I was looking for a continuation from the $169 high, but it is regaining. There wasn't enough support to reach...
Is anyone else paying attention to this? On my last idea, I drew a red line descending from the top resistance boundary, where I thought LTC would fall back to the lower support. But we're getting this weird little pattern that isn't following the previous trend of bouncing back and forth between the channel boundaries. Is this a breakout? Very strange...
Don't take this seriously at all. This is just a wild guess, based on a continuation of the developing patterns coupled with the bearish forecast for BTC. I have no earthly idea if this will happen. Honestly, I hope it does not. Reason being, I bought in this way up on the mountain a few hundred feet above where we are standing today. I just drew this on to see...
I've wasted way too much time studying LTC commentaries this week, trying to get some insight to help me decide on buying and selling points with the goal of accumulating more coins, and preventing losses. The majority of what I read went against my intuition, and it cost me a little bit of money. I noticed that about 95% of the ideas that I read this week were...
I'll bet the majority of you who glanced at this chart thought you were looking a current snapshot of this chart... until you noticed the time period. Yes, this is a step back in history for Litecoin. It's not the current chart. That was from September 2017. But it exposes a very important point for all of us who bought into the December2017 run, including...
First of all, I'll confess that I bought into the secondary runup at $285. I bought again at $247, and $239, thinking LTC would break out of the triangle formation and start a bullish trend. I was right about the breakouts, but they were nosedives, not moon shots. I learned a valuable lesson through all of this, and I think it's worth sharing. Looking at the...