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Litecoinusdt

Litecoin looking to march down!Now that the 190 level has fallen, we should see it move down further to at least 150. My entry point of 171 was barely missed and it has bounced off that area pretty well. I am going to be moving my buy just slightly down in the high 160's since it most likely going to push through this 170 level at this juncture. I would imagine that we will get a strong bounce off the 150 area up to the 170 area, where I will look to take some profit if it does that. My last major area to watch is just above $100. If we start bottoming out it should happen just above around $110-120. This will be a good place to play for a bounce and potentially a longer term play to the upside. As always, make sure you use a Martingale strategy to go into this points if we get sharp drops. Technically, we have a strong MACD cross on the day chart and RSI looking grim. On this 4 hour, we have MACD in negative territory and some RSI divergence which is keeping it up a bit. When the next wave hits, we will most likely see a move further down past this 170 level. Martingale your points in, don't stress, don't use leverage and pick your points! Happy Trading! -Sherem Check out my last analysis on LTC - Longer post - Shorter -
BITSTAMP:LTCUSDShort
by Sherem
3
How to juggle firesaws and not stress!! LTC - Litecoin If you follow me, you know that I am not about looking into the "crystal ball" and seeing what could be. A lot of people say, here is a glimpse into the future! Really cute, it really is. That's how you lose a lot of money as a TRADER (If you are a long term investor, that's an entirely different ball of wax). As a TRADER, I look at what the charts are telling me currently and go off of that to look for high probability trades. IT'S NOT ABOUT BEING RIGHT . It's about taking high probability trades that can lead to profit and minimizing trades that go against us. Right now, I don't see anything manifesting itself with a high probability that can be profitable. Could the market move up? Absolutely. And I am fine with that. I would rather be out of the market than in a losing trade any day of the week. I don't want to stress over why the market isn't going up on a daily basis, it's just not worth it. I look for reasons to make me comfortable with a buy FOR ME . And you need to do the same. I am simply not comfortable at this juncture entering in just for the sake of doing so. Here are some possibilities: 1. LTC breaks to the upside after forming this ascending wedge pattern. 2. LTC confirms this double top and breaks down. Both of these are entirely possible in my opinion, but i don't know what's going to happen so I wait I will sit on my hands and wait for more patterns to form. If it breaks to the upside, great! If it breaks down, great! We can be prepared if it breaks down and we can wait for a better entry point if it breaks up. Here are a few reasons why I am not in LTC right now: 1. The advent of litepay sent litecoin up a lot. But there has been no follow through. 2. (I am using Coinbase's chart because whether you like it or not, they do the most Fiat to crypto volume, it just is what it is)Volume: Because there has been no follow up and no price push upwards, why should it go higher? Look at the volume the last 2 major times this thing spiked. It then goes in a lull for an extended period of time and the market moves down or sideways. Not up in a significant way. 3. That ascending wedge does not give me confidence that we are going up to $300 in a low volume market. Could it? Sure. But it's not worth the risk for me right now. 4. Are we just in a simple Double top formation? I will be putting martingale orders in starting at the 170 area all the way down to the 115 area for the time being. (Read up on the martingale patterns if you haven't!!!!) Unless a pattern forms otherwise, there is no reason for me to enter into the market at this juncture. Don't stress, make sure you are comfortable with the trades that YOU CHOOSE. If you are getting stressed out, you didn't work out your plan enough. -Sherem
COINBASE:LTCUSD
by Sherem
2
LTC/USD After a fork, looking bearishPosition: Leaning Bearish. Not as many Bearish indicators on LTC as there are on ETH. But enough to make me think this is going down. Perhaps one of the biggest reasons LTC will go down is it will be dragged down by ETH and BTC. ETH has a solid reversal set up to drive it down further. If LTC dips, I REALLY like the set up we have here. I will go into that at the end. Bear indicators: 1. MACD averages crossing down, but... still in positive territory. 2. RSI is in oversold territory and broken it's trendline to the downside. 3. It's consolidating - You could argue it's consolidating to move up, or down. I would lean more towards the bulls are temporarily out of steam after a fast high volume run up. For all of this to be confirmed, we need a break of that $205-210 support level . It might channel a bit before it does, but we'll have to see. I will be a strong buyer at the 160 area and an even stronger buyer just above $110 if it gets there. If it keeps going up, no big deal. Made some money with this run up and the fork and will wait for another opportunity to present itself. Buy level 1 at the 160 area: Has nice support and a FIB point. Buy level 2 at the 110 area is a major bottom. Happy Trading -Sherem
BITSTAMP:LTCUSDShort
by Sherem
20