LTC JUNE 2019. The Time Has Come.
Mis à jour
TraderNoxtreme Here,
Well perhaps the time has come. We have reached a SERIOUS indecision point after 2.5 months of upside. The gains have been huge.
Lets be real.
This could really be the top of the new bull market... We expect a lot out of this space. We do not have to go back to ATH no matter how much it seems like we should. The HYPE is fierce in this sector. Some profit is better than none right?
Let's take a look at Litecoin. Bitcoins sidekick who now has a slot machine, a few forks, and an add in UFC.
ATH is 420. Yes, that's right, 420.
So we made it 28.5% of the way there. But we got some HUGE gains percentage wise. 432%!!!! I had to measure it twice and do the math on paper just to be sure.
Let's say this is the top and we head back down. Often you get a second smaller bounce after such a giant one.
What is the game plan then?
Well.
For me, I would be pretty much all in well before we hit the December low of 22 dollars because I do believe we came out of the bear market. We won't know for sure until consolidation is finished and we make a new high.
But there is more to it than that.
We can pull profit out AND have more coin invested then we started with. We can compound our profits if we swing this right.
For me it looks like this. Although that big recovery arrow might be a little optimistic. I am thinking that the halving pump might kick in at some point soon.
The drop could also play out a lot faster than this chart shows but I would rather it doesn't. I would like to see a controlled descent (like what the chart shows) before we get a new high as this would create more confidence that we have finished our bear cycle once we reach 160 ;) . I don't think the downside target is too extreme considering a lot of folks are probably still rattled from 2018.
Stay calm and follow your plan.
Like and subscribe no matter what :)
Well perhaps the time has come. We have reached a SERIOUS indecision point after 2.5 months of upside. The gains have been huge.
Lets be real.
This could really be the top of the new bull market... We expect a lot out of this space. We do not have to go back to ATH no matter how much it seems like we should. The HYPE is fierce in this sector. Some profit is better than none right?
Let's take a look at Litecoin. Bitcoins sidekick who now has a slot machine, a few forks, and an add in UFC.
ATH is 420. Yes, that's right, 420.
So we made it 28.5% of the way there. But we got some HUGE gains percentage wise. 432%!!!! I had to measure it twice and do the math on paper just to be sure.
Let's say this is the top and we head back down. Often you get a second smaller bounce after such a giant one.
What is the game plan then?
Well.
For me, I would be pretty much all in well before we hit the December low of 22 dollars because I do believe we came out of the bear market. We won't know for sure until consolidation is finished and we make a new high.
But there is more to it than that.
We can pull profit out AND have more coin invested then we started with. We can compound our profits if we swing this right.
For me it looks like this. Although that big recovery arrow might be a little optimistic. I am thinking that the halving pump might kick in at some point soon.
The drop could also play out a lot faster than this chart shows but I would rather it doesn't. I would like to see a controlled descent (like what the chart shows) before we get a new high as this would create more confidence that we have finished our bear cycle once we reach 160 ;) . I don't think the downside target is too extreme considering a lot of folks are probably still rattled from 2018.
Stay calm and follow your plan.
Like and subscribe no matter what :)
Note
So far we are following this chart near perfectly except we had a little deeper initial pullback then I expected allowing for a nice trade when we broke back up. I chose not to take the trade because I was away from the computer most of today but I had a stop buy set at 106 last night.Oh well.
I feel confident at this time that we will come back down IF
1. BTC does not go back above 8000
2. LTC stays under 110
3. We continue trending down from touching oversold on the LTC 1 hr rsi.
I will considering a stop buy at 110 if any of the above appear to be reversing.
It seems likely to me that this might have been a whale entering for halving paired with a little short squeeze because the bulk of the run took 10 min.
Note
I think we have risen far enough to say this deep of a pullback is highly unlikely. I will do a new pullback chart in the next week or two. Always have a plan for either direction.
AND
Join my new discord channel! LETS TEAM UP!
discord.gg/QWmu8B
Note
Look here for current upside Idea
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