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LTCCNY

LTCUSD is ranging in supplyzone but about to drop for 3:1 SHORTOKCOIN:LTCUSD1W Major demand and supply zones are highlighted in blue on the chart. Within the upper Major Supply Zone, LTC/USD is presently ranging between two internal minor supply/demand zones. The volumes and the momentum of the range is decreasing as the returns of scalping these two zones is being diminished with respect to broker fees. Long traders will sell and take profit causing the price to fall back to demand zone providing an ideal shorting opportunity with a potential $0.45 per contract profit with a 3:1 reward/risk ratio. NOTE: The Chart is for 1 WEEK LTCUSD Futures - but the same principle applies to the spot chart they tend to mirror each other aside from minor price differences. Please adjust the Stop/Profit/Short price if you're not trading futures.
LShort
by UnknownUnicorn228205
2
LTCCNY - Litecoin Could Be About To See The Day Light - UpdatedUnfortunately, the support we identified in previously published chart gave way for another bearish move. Reviewing the wave counts are not made easy in instruments likes this particularly with lack of historical data. However, it seems at least in this bearish cycle a pull back could be anticipated for the following reasons: 1. RSI at potential support. 2. ADX suggesting that the move is very stretched and corresponding pull back in price might be already in progress. The Fib Extensions could often help but most of these are failing due to lack of proper pivot points and the fact that it has declined so much. Nevertheless I have adjusted the counts for wave (iv) & (v) suggesting that wave (v) is well advanced and could complete soon but caution should be exercised. Conclusion is that once we get a pull back we still have 1 more drive to compete wave iv of (v) that could form a bottom near 8 or probably 5. RSI noted above is also showing larger divergence in formation which if it holds could support the idea that final low could develop around 8 -5 zone. LTC/BTC ratio chart has also broken down and is shown below with counts adjusted accordingly. Similarly, the BTC daily chart we have been following as our roadmap also has some way to go yet, hence further weakness is expected and may be both will bottom together. So unfortunately the light of day will shine through but appears to be postponed for now. As always, do you own analysis and be quick to adjust you views according to progression of price data with time.
LShort
by DanV
26
LTCCNY - Litecoin Could Be About To See The Day LightLTCCNY - Litecoin Could Be About To See The Day Light Most Crypto Currencies have been in a bear cycle for over a year which I am sure must have humbled many eager bulls and given bears something to jubilee. In fact I have noticed that there seems to be more bears being vocal that ever before in the last 12 months of my observation. I almost given up even looking at LTC chart due to my general misgiving about the entire Crypto currencies lack of trust worthy infrastructure and all other negatives which I feel is a limiting factor for wider adoption. But This is early in its infancy and it is to be expected. Price analyses using TA is somewhat difficult with limited price history with wild spikes that populate it. However, checking this chart with one of the user yesterday appear to excite me purely from TA perspective as follows: 1. Assuming that Nov 2013 high correspond to wave (iii) on my BTCUSD chart which formed after clear 5 wave move up. 2. This then needs to correct by abc zigzag this too is evident with wave c displaying clear 5 wave decline which appears to be now complete forming triple bottom. 3. Subsequent price action is attempting to breach the upper trend line of the declining channel accompanied with divergence RSI leading to low being formed and now in bullish configuration and rising. 4. Looking at the smaller time frame there is possible new bullish cycle counts suggesting minor i and ii have formed, if correct we should see further momentum carrying the price higher with volume. 5. The LTC/BTC spread chart also suggesting that corrective bearish cycle could be over. 6. If correct then we could expect LTCCNY at least to retest the upper range of the price namely Nov 2013 high or make new higher high. If you like my analysis then please indicate this with thumbs up, select to follow me and the chart and share it with your acquaintances and other social media. Always do your own analysis before attempting to trade. Any tipping to show your appreciation will be gratefully received: 1Q1jYasGiJxvvYNX2KwwmX8KGoXRMu9rAW Thanks for your time reading through my analysis. DanV
LLong
by DanV
32
Bitcoin market update 9/9/2014Market is sliding lower since yesterday. On yesterday's bitcoin update, I thought that bitcoin would retest lower support line and bounce, which it did. However, even with the Paypal news, the bounce was short lived and now we are at the lows of the day. ibankbitcoins.com Looking at bfxdata, BTC short swaps are at new high, this suggest that traders are comfortable shorting at these low prices, expecting lower. That is kind of a scary thought. A lot of discussion on the forum and reddit have been focused on how paypal will attract new buyers and faster adoption. While I agree with you that this is for the greater good for bitcoin, price don't always follow fundamentals. A simple explanation is that expectation is built into the price, bitcoin's price has already discounted some of the adoption by major processors, that is how its market cap became 10 billion. Judging by the price action of bitcoins after the news, traders and early adopters were disappointed with the news. You can read about another post yesterday covered the buy the rumor/sell the news topic. www.ibankbitcoins.com I shorted LTC at 4.92 earlier on twitter, I do not know the exact reason why LTC is not tracking bitcoin. It should because crytocurrenies are correlated to a high degree (R > 0.7). Its a small position with a wide stop because volatility is crazy in crytoland. I do daily bitcoin market updates and live trades. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com @ibankbitcoins
B
by ibankbitcoins
Huobi LTCCNY: New bottom target of 39.xx CNYLitecoin continues its downward trend to create a new bottom of 39 CNY, lower than the previous bottom. I continue to believe my previous assessment that Litecoins fundamentals are no longer enough to keep it in the position as the second place coin. Unless something very extraordinary(i.e, Litecoin on Coinbase) happens to Litecoin at this point, it's bound to continue its inevitable deflation. In my opinion this is still an excellent short.
LShort
by Adohgg
7