The Litepresence Report on Cryptocurrency

Based on the price action right now, I would definitely classify this bitcoin bounce as a dead cat. The price has to get in the 230s in order for any serious rally to occur, and it's had 2 failed attempts at this level so far. I'm expecting more down, possibly a huge panic, which we haven't seen. For those of you who remember what it was like watching the charts during the last major crash to $152 (Bitstamp), wait until something like that happens. Right now is just a warm-up. Price going down, volume going up, which is a sign that we could break through 200 soon.
 
PaulConventionWV said:
Based on the price action right now, I would definitely classify this bitcoin bounce as a dead cat. The price has to get in the 230s in order for any serious rally to occur, and it's had 2 failed attempts at this level so far. I'm expecting more down, possibly a huge panic, which we haven't seen. For those of you who remember what it was like watching the charts during the last major crash to $152 (Bitstamp), wait until something like that happens. Right now is just a warm-up. Price going down, volume going up, which is a sign that we could break through 200 soon.
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meh, I agree. there are too many bears though. until the bears get shaken out we gotta push up a little.

chart here:
https://twitter.com/DJThistle01/status/636687077514440704
 
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btcltc said:
Damn, are we going to zero now? NMC at 0,3. It cant stand to hit 1 dollar. Poor coin
Click to expand...

don't bother with that. BTC leads all. and if alts split off for a pump or dump ppc or ltc will lead.

btc is king, always watch it for the keys.

topside targets are 240 and if it breaks 260, then moon.

if 240 fails then we go down to test last lows, after that 150ish, then if that breaks we flash to 60ish.

no doom until whaleclub esk traders are more bullish. they are too bearish thus market maker has to flush them out or margin call them.
 
muh_roads said:
A kid in Kenya hasn't needed to download the blockchain for a very long time to use his wallet.

The people who can afford the biggest shovels were always predicted to be the ones who can continue to mine. Just like strip-mining entire areas for a few ounces of gold versus the California gold rush where you could trip over chunks.

21 inc and their partners might bring bitcoin back to its original vision of making the block reward feel more like a lottery by putting low power miner chips in most consumer devices for widespread decentralization. Pools should always exist tho.
Click to expand...

yes yes you are right......
its amazing the parallels of bitcoin,litecoin/ gold,silver
 
2je9qoh.jpg
 
Still long from $226. Market is in reaccumulation right now; I can't see it coming down from here unless demand completely dries up over the next few days. In that case stops are set to keep a slight profit.

A horizontal point and figure count of the sidways area from 8/18 to 9/2 shows that enough force of accumulation has been built up to advance the price about $40, so $260-$270 is the next stop medium term. At that point the market should show us at least one tall green bar on the daily chart on good volume (a sign of strength) to confirm that the rally has gained enough of a following to push above the $26x resistance area.
 
 
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