The ETH Hype has really beaten this coin down, and that makes sense because "FOMO" causes all the LTC investors to go take part in ETH Run. IMHO that is the reason why LTC retraced back from its previous breakout. Fortunately, we can see another LT triangle forming which should attract a good amount of traders.
1st BCH Run, DONE
2nd BTC Run, DONE
3rd XRP Run, DONE
4th ETH Run, DONE
5th LTC Run, PENDING
And I see this pattern repeating when I analyze the charts side by side.
Unfortunately, these coins have no intrinsic value and some price action may not seem logical. There is an equal number of Loozers to the Winners in the Crypto Market. Most of the big time winners are the institutional traders, not the common people! Like the last sell-off, I am sure the fat cats are waiting to buy at a certain level around 200-175. If this falls to that level this coin will also be their property. ST. Will defend the triangle, because they like having good stuff for themselves :). 9:00 am EST tomorrow will make no sense to people who are still waiting.
1st BCH Run, DONE
2nd BTC Run, DONE
3rd XRP Run, DONE
4th ETH Run, DONE
5th LTC Run, PENDING
And I see this pattern repeating when I analyze the charts side by side.
Unfortunately, these coins have no intrinsic value and some price action may not seem logical. There is an equal number of Loozers to the Winners in the Crypto Market. Most of the big time winners are the institutional traders, not the common people! Like the last sell-off, I am sure the fat cats are waiting to buy at a certain level around 200-175. If this falls to that level this coin will also be their property. ST. Will defend the triangle, because they like having good stuff for themselves :). 9:00 am EST tomorrow will make no sense to people who are still waiting.
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Let the volatility commence!Nota
St. Defended the triangle, the smart money should be in. We might see this coin around 270 area before Sunday if everything goes as planned. I am finally getting used to the pattern of crypto trading. We, humans, learn from our mistakes and here is what I have learned from my 4 months exposure to the gdax coins:1. If one coin is gaining, other ones will lose!
2. There is no "hedge", however, you can short any coins that are not gaining if you feel its too risky to get into the hype.
3. You want to go long on a coin that is gaining,
4. Time to sell during ATH is when the momentum stops completely on a fib and makes a double top, rising wedge, or head and shoulders while rsi is high and macd is red. It will stall at that point, thats a dead give away. *The price will recover for a short duration before falling again.
5. Once you are out, you need to wait for things to cool down before going in again. Never ever fomo because the coin itself has no value. The coin has value when people are ready to buy the coin at a certain price, else no one is interested.
6. Fundamentals do not count, its all about technicals and sentiments. There is no way to price a coin for their fundamentals.
We will add to this note if something different happens.
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ETH gaining again, lets hope ltc holds the triangle at any cost to avoid megaphone from forming.Nota
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oh and there is that inv head and shoulders!Nota
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Many people ask me my entry price. I buy at lines and sell at lines, I do not have any price in my mind. Also, if I don't get the entry (which usually doesn't happen) I waite for next line, I don't FOMO.Nota
Nicely retested the fib, Are going to 259 or its going to have a minor break at 252 level.. We will see.Nota
Important levels to look for, short-term Nota
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so breakout again?Nota
My no.4 theory holds Nota
hope you guys saw that... recovered a little, and down like predicted!Nota
avoid fomo -_- Nota
I wouldn't short it, only brave souls do, only trade one direction and the direction that is trending. that's my way to avoid unnecessary risk. Becuase if it breaks it breaks, we missed some profits fine, but we don't want a loss.Nota
looks like going up again.Nota
morning start on 30 min time fram, usually bullish, and broke the previous high, bullish again.Nota
lets watch out for the retracement at D in 4 hr time frame. That would be my "sell all, waite and see" zone.Nota
I see a retest, volume bull Nota
Restest ending with hammer is generally bullish Nota
The reason why we don't short :D and go with the trend.Nota
This is acting strange...Nota
My stop is at red... Nota
Might make a rising wedge, it will run if it crosses its resistance.Nota
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careful guys Nota
sold the half at the wedge, will sell everything if goes below the wedge no loss!Nota
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Thats the distance from d atm.Nota
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volume price divergence is starting to show..Dagangan ditutup: hentian tercapai
lets see what happens :DNota
It didn't hit the D area in 30 min chart. However, I decided to close the trade because I saw the rising wedge pattern with the price volume divergence, which is dead give away bear signal. Bulls still have an edge because the RSI didn't hit the oversold which makes me wonder if the price will bounce at some point to complete the D. Also note that wave E decreases in % if the price within the triangle stalls for a bit, which is a good psychological reinforcement for common people
I would definitely short this if it hit the D in my 30 min chart, but I don't want to take the risk at the moment, I am a buyer at E. Either way, the bulls will be the winner after it breaks out of the triangle.
Alex saw that LTC was trading independently against the bitcoin, this might be a signal to a potential LTC run. Thank you Alex.
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Lol didn't think it would tank that hard! FOMO is a killer, but its too late XD, I will catch some at e hopefully :DNota
<img src="tradingview.com/x/sUwoITxC/" alt="snapshot"/>Nota
<img src="tradingview.com/x/sUwoITxC/" alt="snapshot"/> so I believe it did what was predicted... lets see if it goes what are the odds! this prediction would be 100% accurate if this touches 275 lol.Nota
OMG what happened to this, lol E comming sooner than expected? expecting this is an impulse wave, the bottom should be in 230ish lolNota
Buy order placed at 230 :P, what are the odds!Nota
<img src="tradingview.com/x/sUwoITxC/" alt="snapshot"/>Nota
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looking at obv...Nota
Don't fall for the cheap bull traps....Nota
come to papa!Nota
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don't fomo this at allNota
chill and relax! wave 5 comming to town soonNota
No pain no gain is the name of the game... One more sell off, trapped enough everyday joes with the bear flag channel! Nota
I am in 230 avg price! lets go lets go!!Nota
Wall St. Always wins :) To the moon!Nota
retesting 230.688ish to get more volume ! should go up 12345, a completed b testing 230.68, then c shoud be higer... thenbull 12345 should break the triangle. thats the theory.Nota
MASSIVE BULL VOLUME KICKED IN, IT SHOULD BE A WAITING GAME NOW.Nota
bulls wat to break 240 level to go higher. retest is 30% likelyNota
low risk traders will be waiting at 240.68 levelNota
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Looks like its going to test the cloud, second chance people!Nota
233ish is a buy if you missed that sell-off, volume is good!Nota
Scalpers, Should bounce at the blue pan and head down to the cloud 33.41-31 ish area... its just a guess Nota
enter if the neck voilation occurs, 50% chance Nota
Enjoy your gain folks!Nota
Something to note: Watch price, volume action closely. Nota
Wave wise: Nota
since the market is closed... I have nothing to do. I bought 134, my guess is its going to follow the abcde from the "wave wise" chart. I am holding my Long term position at 230 avg.Nota
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placed sell order at 147, lets see what it does now.Nota
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sold half because the price moved too fastNota
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:( stuck inside aio cloud, sentiment bullish, volume bullish, that's what counts - short termNota
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stoped with profit, buyback here or after the breakNota
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stoped with loss.Nota
Watchout, TA didn't predict this sell off , broke out from a bull triangle, stalled and went below.Nota
Are we going to hit the trendline e?Nota
That selloff yielded some uncanny results, Trade this at your own risk, the triangle is bullish however the set up in a big picture is not. Nota
230 avg people, its your call :)Nota
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This is my last note for today. Nota
LTC followed the exact path of the triangle that I posted before going to bed. It is all clear of all the major danger zone! There is still a chance that the price may retrace back to the trendline triangle at E but be looking at those gann level bounce, it is not likely.Other than that we are heading for a major breakout, we are the smart money people we got this silver at $230! Let's ride this train to 400 and above :) My estimates on this is more than 1000K due to the massive channel.
Meanwhile, if you are bored this will give you an insight into my trading strategy! youtube.com/watch?v=DfnBW6HvNwM. Triangle within Triangle.
Holding long and strong :D
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