I'm posting a longer term chart today, in this chart I want to highlight a few things of importance. We've never been so closely tied to the hip with BTC as we currently are in my opinion, what I mean by this is that breakouts, and downtrends will only happen when BTC allows it. We need a healthy BTC or a sideway trading BTC to make our next real impulse up.
In the chart you can I've shown you some of the various indicators I use, and everything points to us clinging to BTC. I have made a BTC chart which shows my opinions on it, and as a result also heavily impacts LTC. To see that chart please click the link below.
Today is arguably the most critical day for both LTC and BTC in the past 3 months. We have a daily close below the 50 MA on BTC, as well as a possible breakout upwards forming, but if it fails, we're looking at the serious correction everyone's been speaking of over the past month. BTC needs to close above the 50 MA today, or we're going to be seeing 8k BTC in the near future.
As always, if this chart receives 15 likes I'll continue to update it.
Remember traders,
We are at a critical junction. Trade very carefully and wisely. Best of luck to you all!
評論
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Hourly MACD rejected on BTC, I've exited my positions.
評論
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D'oh, it's been accepted now, still in a wait and see for further action, am currently not re-buying.
評論
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First up is BTC.
As promised, here is an update to our situation. We could be looking at a symmetrical triangle on BTC. Please see the picture for potential buy zones *for BTC* if a breakdown occurs.
Key Notes:
This can technically still break upwards, but if we combine the fact of all the negative indicators (VFI divergence, monthly RSI's, low volume, MA crosses, and general bad sentiment) I'd say the likelihood of a break downwards is much more likely.
Now to LTC
If this movement happens to BTC we will see a breakdown of LTC, to what I imagine would be towards $206. I'm going to goto bed, but I'll do a more detailed LTC analysis tomorrow based off whatever happens tonight.
Trade carefully, and best of luck!
評論
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Good evening traders,
Today we saw a failed breakout of BTC, looks like titanic will be sinking again.
With that in mind we're currently looking at a 4h MACD crossing up rejection on LTC, a breakdown of the latest uptrend channel, and MA crossings forthcoming.
We could see a bounce (as could BTC) in the low 220's, however if that fails to hold we will be going much lower. Please see the chart below for possible buy zones.
As always, if you find this useful, please support me by hitting the like and follow button.
it has passed the first level of support. It is now touching the second. You think it is a position to go long?
ant187
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@Induna, I've bought in and gone long, 4 hour stochastic on BTC is at the bottom, another 30-45 minutes itll cross up on stochastic, and then its back to testing previous resistances, 12800, 13000, 13308 on BTC.
LTC levels 200 - 220 - 230.
I think its over...for the time being.
tharpoon
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Great observation! I've pointed out how LTC is tied to BTC's hip to many of my crypto friends last week and was stunned how many didn't make the connection. When things stop making sense cloe-up, t helps to zoom out and look at the big picture. In this case, the broader market and BTC.
Anyone else attending the North American Bitcoin Conference in Miami this week? I'll be there with a few colleagues through the weekend. Feel free to connect with me. Twitter: TomHarpointner
Just posting to 2nd AJ and say that I open your charts as soon as they are available, its great stuff and I truly appreciate the work you're doing. Thanks!
ant187
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@BigD1702, Thanks for the compliment, I appreciate it.
A.J.Carter
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Your regular updates/emails are opened immediately by many of us. We're all waiting to see what happens and your opinions are super valuable. I tethered everything from Litecoin at $255 and eagerly waiting to see if a re-buy in should be placed before it rockets or if this puppy is going to sink with BTC soon. Keep up the good work man!
ant187
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@a.J.Carter, Thank you kindly sir, I truly do hope other people find them useful, otherwise I'm wasting my time!
Full disclosure, I bought in @ 235, near the fib support / trend lines. This coincided with my BTC buy @ 13162, I'm so confident on how closely they're related I pretty much only trade LTC off BTC, my scalp trade I tried to do yesterday netted a few pips, but honestly, I might as well just been trading off BTC, with that in mind I'm back to my roots today and only trading strictly off BTC signals.
I'll be exiting that LTC and BTC position as soon as I see the breakdown happen on BTC.
A.J.Carter
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@ant187, Interesting. Well for my sake I hope it continues down and for yours I hope it skyrockets ;) Please and thank you again for the quick updates as we follow!
ant187
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@a.J.Carter, Thanks again, I am leaning towards the bearish side, optimistically I'm looking for a re-test of 15k on BTC, which would propel LTC as well, we could see a breakout above the 260 zone on LTC if that was the case, and go towards 300.
I do think this is the last upward move however, and I think there will be a serious correction after this impulse completes. If that impulse snaps at 10-11k range for BTC, we would see LTC buys at the low 200's, if BTC goes lower, we would see buys @ 8k for BTC and 130-180 for LTC.
I only bought in to see if my falling wedge theory is correct or not, if it is, great, made few more bucks to purchase on the big drop down. Regardless, there are too many serious indicators on BTC that would be foolish to ignore, I don't know when it'll happen, but when it does it'll be fast, and you'll want to be in cash when it does.