ronfkingswanson

ronfkingswanson

Thanks to @DanV, we can see the deviation experienced in both the April and November rallies, including how far from the mean the april correction extended to the opposite 1.0 boundary. Given a similar range on the peak of the Nov. rally at the 1.0 boundary, it would seem unlikely for the resulting correction to stop only by returning to the mean, and only during...

ronfkingswanson

Not expecting a cliffdive crash like the bad China news caused ending the bubble, but a long decline maybe over a week. Note the LTC/BTC steep slope for confirmation of a flight from LTC > BTC

ronfkingswanson

The timing of the anticipated third pump was near perfect, but the result was not as expected. This short rise was a reflection of the pent-up buying sentiment that had been trapped by the wall @24. However, it was not combined with a concerted pump - thus it ran out of steam quickly as there was no buy volume to match the previous pumps. This result indicates...

ronfkingswanson

The strong walls at $24 that had held for at least 4 days finally gave way this morning, and the pent-up pressure reacted as expected. Next large walls (12K) are at $30, which would fit with the rising wedge trendlines.

ronfkingswanson

half-dozen attempts to get near the $24.0 ask wall have been met with active resistance, including a dynamic buffer wall that prevents getting up to 23.9 anymore (it's removed when the buy pressure subsides and goes back to 23.6-23.7, while the 24.0 wall stays put). Additional walls appear at 23.9 and 23.95 when rally is persistent. Earlier today, a bid order...

ronfkingswanson

previous LTC ask wall patterns would suggest pressure is being allowed to build and support consolidate for the next pump.

ronfkingswanson

adjusted some anchor points (and dropped the dependence on the exact pump period), which revealed a little more room for sideways consolidation.

ronfkingswanson

So many analyses have attempted to define the past two weeks' rise from the bottom as a continuation of the bubble correcting itself, and have drawn trendlines off the top and successive dumps to show why this rise must fall yet again. But I'm seeing the resumption of a longer-term mean average rise that began before the Nov. 26th spike. In this overview, you can...

ronfkingswanson

Approaching the end of this second possible pump and hold period, with the cycle anchored on wednesdays, rather than the clear weekend crashes of the recent bubble. If prices drop out of the first fib channel and cross the second, a third pump period could be less likely, though there no clear indicators that an immediate panic sell and new all-time lows would...

ronfkingswanson

slow bullish rise came early, didn't have the volume or sentiment to bust the wall, tried again and got smacked down by a simultaneous selloff and lowering of 30,000LTC ask wall. pitchfork origin on the Nov. 8th LTC spike at the beginning of the bubble shows clear movement right alone the center channel EDIT: some whale ate the 34,000LTC wall in one gulp......

ronfkingswanson

upwards channel and support / resistance lines holding up nicely

ronfkingswanson

many projecting one more bull rally, this is how I would see it happening for LTC. In fact, LTC could lead the rally again.

ronfkingswanson

like skipping a rock on the lake...

ronfkingswanson

as this latest rally has lost some steam, and litecoin has slid, I noticed @Azzzz pointing out 3 clear bounces of the 21.60 support line every time it tried to drop. I decided to look back a ways and realized it's been going on for a while...

ronfkingswanson

Forgive the lack of proper technical vocabulary, as i'm self-taught ;-) There's probably already an existing TA theory for what I'm describing, but here goes... My experience with BTC panic selloffs would expect almost every steep crash to be followed by an almost equally steep recovery, almost up to pre-dive levels. And then this last correction seemed unusually...