Long
Litecoin...the stars have aligned prepare for liftoff
This is not what tops look like. Litecoin is clearly getting ready for its next leg up. Lots of information in the 1d chart above. And maybe even more important information in this 4h chart which shows the ABCDE triangle I have been tracking is either complete or very close to completion:
Charlie Lee (the best leader in crypto IMO which is a delicate balance) has left Coinbase to work on Litecoin full time. Yours network just announced they are ready for launch. Bitstamp trading imminent. LN progressing. RSK coming. Eventually down the line Confidential Transactions. LTC has demonstrated its worth in spades with segwit, and if bitcoin successfully gets segwit, I would argue the biggest reason was that we were able to see that it works with an attackable bounty on Litecoin. And this will always be the case with new tech, ltc can steal from bitcoin and implement tech first, which will also in turn help bitcoin.
The future has never been brighter. Who is there left to sell who did not do so on the last correction, and that’s exactly what it was, a healthy correction. What’s left to ponder?
Charlie Lee (the best leader in crypto IMO which is a delicate balance) has left Coinbase to work on Litecoin full time. Yours network just announced they are ready for launch. Bitstamp trading imminent. LN progressing. RSK coming. Eventually down the line Confidential Transactions. LTC has demonstrated its worth in spades with segwit, and if bitcoin successfully gets segwit, I would argue the biggest reason was that we were able to see that it works with an attackable bounty on Litecoin. And this will always be the case with new tech, ltc can steal from bitcoin and implement tech first, which will also in turn help bitcoin.
The future has never been brighter. Who is there left to sell who did not do so on the last correction, and that’s exactly what it was, a healthy correction. What’s left to ponder?
Note
As pointed out by a user in private, and I actually independently had considered the same idea--its possible the whole abcde triangle was wave 2, and that whole way up from what i had (possibly incorrectly) labeled wave 3, was really just wave 1. Which would mean we are gearing up for a gigantic wave 3. Again if you have been following you know EW is not my expertise so glad to hear others opinions. What I am confident of is that the moon is near : )
Note
credit to u/atombomb on the catch.Note
Chart is looking great, when bbw (bollinger band width) breaks out of the triangle its currently coiling up in (inevitable) we will get a huge move upward:Note
4h chart showing nice hidden bullish divergence on the MACD histogram and RSI, looks like this should pop again soon:Note
Daily RSI hit trendline and looks to be turning:tradingview.com/chart/34AQFf6z/
4h chart at support:
Bounce time in both bitcoin and litecoin?
Note
Look how the Bollinger Band Width is coiling up as we break out, this is going much higher, $90+ at least:Note
Worth noting there is a nice bearish divergence on the RSI here on the 1d chart:So it would not surprise me if the price dips again before exploding higher. It would also allow the bollinger band width to coil even further. Destination is the same either way.
Note
If we do get this dip it would create for some nice hidden bull divergence. Would be very healthy for this to happen before breaking out:Note
Bearish divergence played out on the 1d (RSI) as expected. Possible the low is already in, could go a bit lower, or just sideways for a bit till lift off, 4h has found support:Note
Pretty much went exactly as expected, looks like that's all the down we'll get:Note
Note
Price went a bit lower than expected in the bitcoin weakness but thats okay still have hidden bull divergence. Now the price bouncing, looking great:Note
Note
Looks like she's about to pop:Note
Still looking great:There was also this inverse H + S breakout on the 4h chart:
twitter.com/btc_joe/status/887833840722604033
Note
Still looking great:Note
On the daily chart price wicked down to the 30 EMA which should serve as support. On the 2h chart a bullish ascending triangle has formed. BBW is ready to explode and RSI and MACD looking good, when this breaks the top of the triangle it should really get going:Note
Unfortunately all my ltc charts got rekt by btc-e going down : ( people are asking me what I think of the market, here is my most recent update on twitter using bitfinex data:twitter.com/btc_joe/status/892512115449311232
As soon as btc-e comes back (fingers crossed) I will continue to update using my original charts : )
Note
pop : )
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.