The Litepresence Report on Cryptocurrency

Hey Litepresence! I finally joined your forum! I've been following you and everyone else on here for some time and really enjoy your tech analysis and commentary. I admire your honesty and transparency too ( e.g. came home to triple digit losses after slaving all day) thanks again for helping me get some of my coins off Cvirtex too. I was surprised when you got back into LTC too soon after calling for 0.012, I saw a classic A B C correction to $3 ltc forming and wanted to comment here but hadn't joined yet. That was another epic call you made.
We do have a lot in common actually, Im a contractor in construction (puncture wounds in several fingers) I really enjoy trading crypto currencies and I have a young son too. On a side note, wondering what your thoughts are on BTC-e? I was watching today as a HUGE drop happened in BTC? Also there seems to be so little BTC on the exchange? Reminds me of when Gox was in its last days???
 
bullhammer said:
Hey Litepresence!

[]

wondering what your thoughts are on BTC-e? I was watching today as a HUGE drop happened in BTC? Also there seems to be so little BTC on the exchange? Reminds me of when Gox was in its last days???
Click to expand...


I have always used btce to generate the honey badger signal which I currently send to about 35 live traders; I moved the signal today to follow bitfinex exchange because of how far btce is from the market average.


I'm of the opinion that the majority of coins for sale on the book are spoofed and are being used by a single party as down pressue to collect at $12 under market price. There seems to be difficulty moving USD from the US onto BTCe exchange and this individual seems to be exploiting that bottleneck; perhaps from an EU country with better access.
 
presence said:
I have always used btce to generate the honey badger signal which I currently send to about 35 live traders; I moved the signal today to follow bitfinex exchange because of how far btce is from the market average.


I'm of the opinion that the majority of coins for sale on the book are spoofed and are being used by a single party as down pressue to collect at $12 under market price. There seems to be difficulty moving USD from the US onto BTCe exchange and this individual seems to be exploiting that bottleneck; perhaps from an EU country with better access.
Click to expand...


Do you feel the exchange is still safe to have significant amount of coins left on it? I remember you saying you trust those guys......, I'm kinda nervous especially after what happened with mintpal, etc.
 
amonasro said:
Market looks pretty well bottomed out here, with a good show of strength in LTC and yesterday's daily candle closing in the green in BTC. That and we have the 50 day MA crossing the 200 day MA right behind us--I say hold. Set your stops to break even or use a trailing stop once the rally gets going.
Click to expand...

Thank you !!
 
bullhammer said:
Hey Litepresence! I finally joined your forum! I've been following you and everyone else on here for some time and really enjoy your tech analysis and commentary. I admire your honesty and transparency too ( e.g. came home to triple digit losses after slaving all day) thanks again for helping me get some of my coins off Cvirtex too. I was surprised when you got back into LTC too soon after calling for 0.012, I saw a classic A B C correction to $3 ltc forming and wanted to comment here but hadn't joined yet. That was another epic call you made.
We do have a lot in common actually, Im a contractor in construction (puncture wounds in several fingers) I really enjoy trading crypto currencies and I have a young son too. On a side note, wondering what your thoughts are on BTC-e? I was watching today as a HUGE drop happened in BTC? Also there seems to be so little BTC on the exchange? Reminds me of when Gox was in its last days???
Click to expand...

I still can't figure out how there was a btc drop to $150. last night, when all other exchanges were roughly $270.
 
Dianne said:
I still can't figure out how there was a btc drop to $150. last night, when all other exchanges were roughly $270.
Click to expand...
Wonder who got hacked to cause such a big drop? Last time that happened someone just wanted to dump as much btc as possible.
 
Dianne said:
I still can't figure out how there was a btc drop to $150. last night, when all other exchanges were roughly $270.
Click to expand...
Wonder who got hacked to cause such a big drop? Last time that happened someone just wanted to dump as much btc as possible.
 
kpitcher said:
Wonder who got hacked to cause such a big drop? Last time that happened someone just wanted to dump as much btc as possible.
Click to expand...

The btc-e orderbooks are kinda thin. A noob trader with a lot of coin might've just panic sold. A lot of old-school miners are starting to trade, I think.
 
Warrior_of_Freedom said:
btc dropped to 150 last night?! I shouldve bought a shit ton and nearly double my money!
Click to expand...
I can only assume that was gobbled up instantly by orders. After it dropped to $1 awhile ago on the major dump of some hacked coins there are some low walls just in case something like that happens again.
 
muh_roads said:
The btc-e orderbooks are kinda thin. A noob trader with a lot of coin might've just panic sold. A lot of old-school miners are starting to trade, I think.
Click to expand...

I agree the books at btce can be thin. I suspect that was the case yesterday morning..... however I do not suspect it was a fat fingered "noob" because instantly the sell side of the book became relatively huge with down pressure. I suspect it was orchestrated to buy coins 5-10% below the market average as btce stayed depressed with heavy down pressure for the past 24 hours. I believe the book was purposefully scrubbed at an opportune moment and the event orchestrated through the day as HFT script front ran orders collecting 265 coins while other exchanges held steady at 277.
 
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1LEXroB.png
 
I lightened up at 3.77, can't help but think we may re-test last low @3.18 or even go to 2.50

presence said:
VLJhhLYQ


PPC RED
NMC ORANGE
NVC PURPLE
LTC SHADED AQUA w/ PINK


https://www.tradingview.com/chart/hdotbNmz/#
Click to expand...



I think we may re-test the lows? last low @$3.18? could even test the mid 2s ? The chart pattern lately is so hard to read? maybe because of the manipulation etc.? Im lightening up my position, still very bullish long and med term!
 
bullhammer said:
I think we may re-test the lows? last low @$3.18? could even test the mid 2s ? The chart pattern lately is so hard to read? maybe because of the manipulation etc.? Im lightening up my position, still very bullish long and med term!
Click to expand...
Time to leave, hoe. Your account won't be alive for much longer.:)
 
FSP-Rebel said:
Time to leave, hoe. Your account won't be alive for much longer.:)
Click to expand...


Why the hostility Mr Rebel? Isn't this a Ron Paul Site? Last time I checked he stands for Freedom, including freedom of opinion on the markets! Not sure maybe my opinion offends you but we did get down to 3.43, thats only two bits from the 3.18 low? could have easily tested it! Im glad it didn't cause Im almost all in LTC!
 
So I've been acquiring a bit of DASH (formerly Darkcoin)

Here's what I like about it:


On fundamentals:
1) its the only alt traded at high volume bitfinex besides LTC
2) it has 1/3 the coin supply of BTC; 1/8th the supply of LTC an its trading at par with LTC to the USD
3) its currently #4 in market cap behind BTC LTC and XRP


On technical merit: (its not a shit coin)
1) its has a focus on privacy that BTC LTC and obviously XRP lack
2) its designed to be asic resistant
3) its credit card FAST https://www.dashpay.io/instantx/
4) there's more than enough white paper to let you know the coin devs mean business.

Now... on technical analysis (which is all I really care about :D ) :

Here's 12h SMA 30/60/90/150. You can see DRKUSD made a "Green Dragon Cross" about 10 days ago and has since settled out from its initial spike. DRKBTC is making a "Green Dragon CRoss" today; meaning 30>60>90>150. These crosses tend to persist for 8 weeks or more.
MMayPO9.png



here's

DASH to LTC (Litecoin) ratio at cryptsy on 3d candles:

JQQKKXG.png


Note the bounce at the bottom.

Zooming in on that bounce on 8h candles:

pjcqTN6.png


Now admittedly finer resolutions of DRK/LTC ratio is pretty pink noise... but 3d and 8h shows a clear reversal; I can't pull up moving averages but I expect, if I could plot DRK/LTC on 12h and add in 12h 30/60/90/150 I'd see either an impending or realized "Green Dragon" cross; meaning DRK is bulling not only Bitcoin and the USD but its back to bulling Litecoin as well.

Given Bitcoin is a green dragon; litecoin is bouncing out of despair and dark is bulling them both: I see a quantitatively gorgeous leveraged bet.

Dash is relatively small in terms of daily trade volume however there are three solid avenues for aquiring coins without pushing the market:

Bitfinex offers "hidden orders" for both drkusd and drkbtc; so you can be a hidden wall of iceberg support for a price level and just let people sell into you; I susepect if you keep your hidden buy wall near the top side margin on 30m you'd have no trouble aquiring 1000 DASH overnight.

Also at Cryptsy; I suspect buying anything under 1:1 DRKLTC parity would net you a 1000 coins within a few hours of manual accumulation.


Like any investment nothing is assured when trading DRK; this is a HIGHLY VOLATILE asset; it has been as much as 3X to as little as 0.3X the value of LTC in the past 90 days; this said I think buying at parity after the bounce from 0.3X is a cozy entry.


websites:

http://dashcoin.net/
https://www.dashpay.io/
https://en.wikipedia.org/wiki/Dash_(cryptocurrency)

charts:
https://bitcoinwisdom.com/markets/cryptsy/drkbtc
https://bitcoinwisdom.com/markets/bitfinex/drkusd
https://bitcoinwisdom.com/markets/bitfinex//drkbtc
http://coinmarketcap.com/currencies/dash/#charts
https://poloniex.com/exchange#btc_dash
https://www.cryptsy.com/markets/view/DASH_LTC
https://bittrex.com/Market/Index?MarketName=BTC-DASH
http://altcoinlive.com/cryptsy-dash-ltc





interesting article on the rebranding here:
http://cointelegraph.com/news/113781/darkcoin-is-now-dash-and-not-a-moment-too-soon
 
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