We will have one last entry point this weekend. We can see price is massively overbought, stochastic is max threshold and we are in uncharted territory. This is wonderful! However I expect a large down trend until Monday so there will be a good chance to enter before Monday when we go to the moon. Get in when it dips. I expect it to drop to $22 level, but not for long at all, it will test some resistance until Monday, then massive bull run.
LTC's the only validated cryptocurrency that hasn't gained the last 6 weeks. We're headed toward $50. TA isn't useful when a shift of funds from one asset to another takes place, especially given the reasoning behind the shift is a flaw in the origin asset. (BTC to LTC) I suggest you look at the LTC/BTC chart rather than the LTC/USD chart and you'll more clearly be able to see the trends, since LTC patterns emerge in relation to BTC much more than they do the USD.
devchaube
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Michael... if this goes anywhere near $25... I WILL BE FOREVER GLUED TO YOUR PAGE.
MichaelBlach
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@devchaube, haha well see man. Honestly I hope this TA is dead wrong and we cruise into Monday with Bitstamp launch with massive price influx but I have to give my due diligence
devchaube
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@MichaelBlach, Totally understand. If by tomorrow morning-afternoon any part of this becomes true, I'm getting ready to dump everything I have into this as quickly as possible, and then I'll try to accumulate as many coins as I can from that point forward. After this point it's only up since it's only going to be nothing but good news. Bitstamp now, Bitmain, Coinsen, also QuadrigaCX might add LTC soon for us in Canada, and the higher this goes the faster that happens.
RingoBongo
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@devchaube, I'm with you here. Not good at reading these. But I believe it's been massively over bought due for correction before moon. Post your hold decision or sell time please.
devchaube
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@RingoBongo, Sold about 45 mins ago at 39.xx, will buy the dip.
MichaelBlach
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@devchaube, hey man, hope more than anything that this holds until Monday I just don't see it happening
devchaube
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@MichaelBlach, I sold at 39.4xx or 39.5xx, and now it's dipping into the $37's! Close to your call of around $36 by my time but idk what timezone you're in, anyways, cashed out at a decent 30% profit ^_^
Phil_RX
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You had it rigth but just a bit too soon. Wave 3 had to spread up and targets were a bit higher. But we just touched them and now I think is retracement time !
RingoBongo
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Btc had a brief rise during LTC dip too. Is that what you're talking about @RyanDreBach ?