jbutler7

jbutler7 Pro

Not much to say here. I woke up today with LTC having absolutely dumped hard and FAST. It was miserable. Today was miserable. As bearish as you might feel, consider this one... last long. I was just as bearish as anyone this morning, but this has me reconsidering. This is not financial advice like always. I don't know what I'm doing half the time. This idea is...

jbutler7 Pro

So far this dip isn't terribly concerning to me. I'll outline bearish and bullish things I see, and let the market decide. Just know that I am long term bullish, and bearish comments are only short sighted, I don't yet have concern for Litecoin to reverse to a multi year bear market yet. It will be interesting to see what bigger names do, Litecoin has not been a...

jbutler7 Pro

I see this and I am obviously biased, but it's really hard to see a bearish scenario here. When I say "hatching" I mean Litecoin/BTC has broken through some serious resistance above the 50W EMA. If we see another weekly close above here that would be mega bullish. First, lets looks at resistances. Drawn in purple dotted lines are the first short term resistance...

jbutler7 Pro

Not much to show here, I still think BTC will perform well, might even see 100k but this is where Alts may take BTC dominance down to 30-40% again.

jbutler7 Pro

What you see here is not financial advice! Here is a very rough macro analysis of Litecoin against historical price/indicator movements. Sadly, unlike most other major cryptos, Litecoin has not broken its 2017 ATH. Some could see that as an opportunity however. I just thought I'd share this interesting similarity I picked up on while examining the MACD in the...

jbutler7 Pro

You all know how @satoshilite called the Litecoin top and bottom? Well he has spoken again! We have decrypted his last tweet, translating cryptic emojis to English. "All time high by 10th birthday," and Litecoin's 10th birthday is next October. We need no more information than this chart to see that the next ATH price should be around $1,300 - $2,300. Call me crazy.

jbutler7 Pro

My main focus here is the RSI, everything else here looks bearish. I hope I'm wrong. Guess I should buy some more.

jbutler7 Pro

I never really thought we'd be touching this red ascending support line, at least not this soon. It has acted in the past as major support for widely volatile selloffs, and this time the fear is no different. Let's hope this holds, otherwise who knows where a bottom could be?

jbutler7 Pro

Been a while since we have tested the 200d EMA. Last time we did, we dropped lower to the 50 then witnessed an excellent run and a golden cross prior to LTC's 2019 halving. Now we will probably rely on hype around BTC's halving for further movement upward this year. It looks so similar to early 2019 you're silly to miss this opportunity to profit in sats, lites, or USD.

jbutler7 Pro

This chart looks a bit on the weaker side. RSI trending down. 200w EMA didn't break out, and 50w EMA may also show some resistance. Too much excitement around other alts pumping (DASH, ETC, and a few others). Currently testing a year+ long bullish trend now, if that breaks (which I think it will), alts will start flexing. BTCUSD may too, but not as much. Then...

jbutler7 Pro

No development. No community. No one cares about Vertcoin anymore.

jbutler7 Pro

Self explanatory.

jbutler7 Pro

The only thing concerning me is being on the higher end of the RSI right now. But peeking above moving averages and those solid bullish trendlines are looking nice.

jbutler7 Pro

This looks like the last low based on this random channel I drew. We hit the bottom of the green part of the channel, and also oversold on RSI. Now that is happening again about 6 months later. This coincides with some fib levels too. Do we bounce up from here in a little bit (maybe 01/2020) or do we do what I think we'll do and trade sideways for a few more...

jbutler7 Pro

Do. Or do not. There is no try. Just adding my 2 sats to the equation. We are currently holding above the 50w EMA, but the 200w EMA is far below by about a 45-50% drop (4500). I have drawn a long term trendline which BTC broke below and tested the 200w EMA perfectly before rising to 14k. Now we are breaking below it again. The 50 EMA is acting as stronger...

jbutler7 Pro

Pleased to see SoFi supporting Litecoin on launching its crypto trading platform! Now, for the charts! LTC is bouncing almost perfectly off these fib lines. Didn't anticipate us bouncing off resistance back to 50 from 80. I see now that that was strong resistance because of the 50w EMA and rib added confluence to that resistance area. We could possibly see lows...

jbutler7 Pro

Okay okay so technically this is facing resistance at the blue EMA line, so you wanna long on breakouts above resistance and not into resistance... high volume bla bla bla. I've never really charted a long chart before though, and it just looks like something is brewing is all I'm saying here. Enjoy the gains!

jbutler7 Pro

Could this be a great buy? Time will tell. With BTC.D charging higher and this ratio going lower, I wonder if it means the death of DGB or the start of a massive rally. Part of me hopes it's the death, and the other part of me hopes it's a huge rally. Death because there's too many alts out there (but DGB is among the better ones) and rally because I still am...