jon_matranga

LTC 4 hr consolidation

COINBASE:LTCUSD   Litecoin / Dollar
-likely to retest ~230-240's before moving upward
-watching 12 EMA for support
-2 points of contact on the resistance line, 4 points on the support line

I’d like to see another touch of support one more time and then we can go forward. The unfortunate thing that we both know is - it’s not going anywhere without BTC. The two are just too closely correlated. Would love to see alts find their own independent worth this year. I understand BTC is the most common trading pair, but it’s kind of a bummer knowing that you fav coins can be doing great and then BTC has a bad day and... there goes your portfolio!

Think we’ll ever see them break away, or do you feel they’ll always be slaves to how BTC decides to behave?
Balas
@TheGush, they are linked at the moment and probably will for a while because they are the same type of coin and serve as stores of value. I'd like to see ETH deconverge form BTC that was the smart / ETH based alt coins (which there are many of) loose their correlation to BTC and tack to ETH.

For LTC. It broke lower lows bearing but is still within its daily and 4 hr equilibrium pattern. BTC and LTC should be moving, either up or down in the next 5 days.
Balas
TheGush jon_matranga
@jon_matranga, I completely agree with you here about ETH and I think we’re already beginning to see this type of divergence. ETH took off while BTC went down- and I honestly expect to see another ETH run up while BTC continues to bounce in the current channel.

I fully expect ETH to have a fantastic year. I could even see it stealing a lot of BTC’s fame soon. ERC20 will see a lot more utility this year. I am also keeping my eye on stellar lumens for this same reason.

May we both have a success in 2018!
Balas
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