The Litepresence Report on Cryptocurrency

[PaulConventionWV]

Looks like a triple bottom is about to happen. Broke thru 220 again. I'm 50-50 right now.



Lets enjoy it while we can. ETF's instruments are coming soon which could cause things to stabilize for more boredom.

It's not a triple bottom until it breaks above $240. Until then, still very bearish.

 

[presence]

still very bearish

I'm betting against you my friend, we shall see.

 

[PaulConventionWV]

I'm betting against you my friend, we shall see.

Indeed we shall. If we break above $240, then I'll go all in.

 

[presence]

SMA37day LTCBTC crosses over to positive slope this morning joining SMA20day through SMA36 day all pointing up hill. SMA20,21,22 shorter averages rising fastest indicates continuation of the bullish tendency:

 

[presence]

PPC just broke out on a whale pump at btce;

price tripled from 30c to 94 cents in about 15 minutes. shaking out now.

 

[FSP-Rebel]

Looks like namecoin saw some action too.

 

[muh_roads]

Somebody bought 30,000 LTC or so. Giant doji.

 

[FSP-Rebel]

Somebody bought 30,000 LTC or so. Giant doji.

I opened up the one minute chart to see what happened and the red bar came first which I didn't understand.

 

[muh_roads]

I opened up the one minute chart to see what happened and the red bar came first which I didn't understand.

I guess that is considered closing red. But it doesn't make sense when the previous tick was lower.

Anywho, looks like it double-topped. Whales trying to scare ppl out?

 

[muh_roads]

We'll find out in the next few days, but I'm sad to say that bitcoin is looking pretty bearish for now:

https://www.tradingview.com/v/GrWYXbgz/

Going back to 120-150 and staying there would be like rewinding the clock to 2013 and acting as if the bubble never happened.

 

[presence]

I guess that is considered closing red. But it doesn't make sense when the previous tick was lower.

Red simply means the candle closed lower than it opened.

That 1m candle opened with a single buy spanning 00807(open) through 00825(high) and closed at 00798 after touching back briefly to 00793(low).

 

[PaulConventionWV]

Going back to 120-150 and staying there would be like rewinding the clock to 2013 and acting as if the bubble never happened.

Yup, and it may go lower still. Like I said before, it has to end sometime, but maybe not yet. The thing is, we've broken every meaningful long-term trendline, so now it's just a matter of waiting for the market to enter "despair" before finally reversing because there are no more sellers left. Are we there yet? Maybe not, but I think we're close. Just have to take it as it comes and play the swings.

 

[muh_roads]

Yup, and it may go lower still. Like I said before, it has to end sometime, but maybe not yet. The thing is, we've broken every meaningful long-term trendline, so now it's just a matter of waiting for the market to enter "despair" before finally reversing because there are no more sellers left. Are we there yet? Maybe not, but I think we're close. Just have to take it as it comes and play the swings.

Is TG1 your buy-back ($175)? if it breaks thru then stop loss and wait for TG2...etc?

 

[presence]

 

[PaulConventionWV]

Is TG1 your buy-back ($175)? if it breaks thru then stop loss and wait for TG2...etc?

$170 is about my close short target. I will wait until then to see if I want to buy back, but if a new low is made beyond $166 (Bitfinex) then I will not be buying and may resume shorting.

For now, I'm looking at $226 and $210. If it's going to be bearish, then it should not go above $226 again.

 

[muh_roads]

I'll admit I still don't have the best trained eye for charting, but I have to be honest, this is starting to feel like damage control. You were so loud about buying that it probably contributed to that spike to 0089 and we've been in the shit ever since.

If BTC goes up LTC/BTC will go down even further. I'd really advise not going all in.

I don't want to sound ungrateful. I'm glad you're following LTC though. Someone needs to. Although I think it is a mistake to ignore Darkcoin & Ripple. All three are going to be fighting for #2 IMO. And Litecoin is the least unique of them all. Out of any of those Darkcoin seems like the most worthy to support since all the Anonymous shitcoin tech developed in 2014 seems to be coalescing behind it now. It also has the support of one or two darkweb markets out there.

 

[muh_roads]

$170 is about my close short target. I will wait until then to see if I want to buy back, but if a new low is made beyond $166 (Bitfinex) then I will not be buying and may resume shorting.

For now, I'm looking at $226 and $210. If it's going to be bearish, then it should not go above $226 again.

Looks like 226 might be tested today. The MACD on the 1H & 4H looks...promising...I guess?

 

[presence]

I have to be honest, this is starting to feel like damage control. You were so loud about buying that it probably contributed to that spike to 0089 and we've been in the shit ever since.

0089 was well within the prevailing price channel at the time:

Every day that SMA7day stays above SMA30day the LTCBTC bull pattern becomes more entrenched regardless of hourly price action.

If BTC goes up LTC/BTC will go down even further. I'd really advise not going all in.

If BTC goes up its breaking out of the year long bear market channel; "Red Dragon" criteria will be broken. This would represent a shift to Bitcoin BULL market; the beginning of Bitcoin BULL is when LTCBTC historically breaks out BULL as well.

I'm glad you're following LTC though. Someone needs to. Although I think it is a mistake to ignore Darkcoin & Ripple. All three are going to be fighting for #2 IMO. And Litecoin is the least unique of them all. Out of any of those Darkcoin seems like the most worthy to support since all the Anonymous shitcoin tech developed in 2014 seems to be coalescing behind it now.

I like ripple less than I like doge on philosophical grounds xD

Darkcoin on the other hand I do respect, and I agree with you on its merits. I have been keeping an eye on it. Specifically I like how it can act as a simple tumbler to move Bitcoin... Buy DRK move DRK... trade back to BTC for relative price stability.

Here it is shown w/ SMA30day

Note the price action in the days following SMA30day shifting to positive slope in the past 2 weeks.

I think its a great coin... but I'm so burned on losing my bank at mintpal I can't fathom involving myself outside of the big exchanges in the foreseeable future.


Here's LTCBTC same 1 day candles... w/ SMA30day and SMA7day; note the accelerating positive slope of SMA30day at the tip, and the similarity it has to the curvature of SMA30day for DRKBTC just before DRK broke out 2 days ago:

If SMA7day crosses back under SMA30day before a healthy 10X event; I'll admit defeat. Until then, yes, I'm all in LTC.


~~~ ~~ ~ @<(^)>@ ~ ~~ ~~~

 

[muh_roads]

Did you lose a lot at Mintpal? I'm sorry to hear that. Now your hiatus last year makes more sense.

Yeah I'm not nuts about supporting Ripple. But I have no problem with dumping on it for more BTC.

 

[Dianne]

I'll admit I still don't have the best trained eye for charting, but I have to be honest, this is starting to feel like damage control. You were so loud about buying that it probably contributed to that spike to 0089 and we've been in the shit ever since.

If BTC goes up LTC/BTC will go down even further. I'd really advise not going all in.

I don't want to sound ungrateful. I'm glad you're following LTC though. Someone needs to. Although I think it is a mistake to ignore Darkcoin & Ripple. All three are going to be fighting for #2 IMO. And Litecoin is the least unique of them all. Out of any of those Darkcoin seems like the most worthy to support since all the Anonymous shitcoin tech developed in 2014 seems to be coalescing behind it now. It also has the support of one or two darkweb markets out there.

I've almost given up on the ltc/btc moon so jumping back and forth from ltc to CNH on btc-e. I'm not sure what I am doing, but picking up around 30 LTC per day doing it, which for me is far better than my past history of losing coins. I'm buying around 7.75 and selling around 8.37 .