Oakeso1

Oakeso1

Despite claims from many big investment sources that BTC is overvalued, is actually only worth $26,000 to $32,000 etc...I say HogWash. First of all, nobody can place a fair value on Bitcoin, or determine what it is "actually worth" versus it's current price. Bitcoin, like anything, is worth exactly what someone is willing to pay for it. Also, its price and...

Oakeso1

I have been watching ETH very closely and in my opinion, ETH has shown a consistent refusal to drop below $2600. Despite numerous events, and warnings from those who have been predicting a big drop, whenever the price has dipped below $2600 it has snapped back above, and in fact has tried repeatedly to push higher but seems to have strong resistance around...

Oakeso1

Folks, I am not an expert at Technical Analysis. Everything I know about technical analysis, I learned from studying the IBD CAN-SLIM system, and from just watching charts for so many years. I believe that TA is an important tool in the tool box, but as a believer in long term investment I worry little about shorter term action. I believe that for the vast...

Oakeso1

Ok folks, I'm not going to sugarcoat it - LTC took a serious hit in this correction. I was not expecting to see it fall as much as it did. It lost fully half its value, from the recent high above $400. Just before the crash, I had noted on the 4- Hour Chart that LTC seemed to be pulling away from its tie to Bitcoin and charting it's own path upward. Today, we see...

Oakeso1

Just a quick look at the 4 hour chart. It looks a bit scary to me. Like hanging on the edge of a cliff and not real sure what will make it jump up versus downward pressure. I wonder...is BTC going to become passe? Will it be ousted from Kingship by newer competitors? Just a thought.

Oakeso1

Looks like LTC is making some moves up as we speak. Let's see where she goes. Charts are looking good.

Oakeso1

So we saw LTC go down yesterday with the rest of the market. But I think at the moment that we might be starting to level out after the drop. BTC right now is about 44500, after just dipping down to almost 44K in the last 15 minutes. LTC is about 283. I think there is still a chance for BTC to go down again, to 40K in which case I could see LTC going down as well...

Oakeso1

So we see BTC drifting down in the last hour to almost 45K. LTC has drifted down as well but not much below support at 300. Will BTC hold support at the 45K level or slide lower still? If it goes lower, I think we could see LTC slip lower still, but for now I continue to see 300 as a good support level, even if it goes a bit lower. If, however, BTC or the market...

Oakeso1

Again having trouble posting charts. This is the chart I wanted to show 9n my last post showing LTC LTC divergence from BTC. The 4 hour chart. Apologies.

Oakeso1

Again, having trouble with my charts. This is the chart for my last post showing LTC LTC divergence from BTC. Apologies.

Oakeso1

Right now, we see that BTC is still showing some weakness as it has drifted down to the 57K range. We see that LTC has drifted down again to almost the 300 support level as well. I am watching this situation closely. I believe this support can continue, but we must remain vigilant. However, it is even more clear on the 1 hour chart, how LTC has in fact begun to...

Oakeso1

Yesterday, I commented on what I considered to be a strong show of support for LTC at the 300 level. I was a short term bear until I saw this strong support. Still, a lingering question remains as to whether LTC can break away from tracking with Bitcoin and start charting it's own path up. I am optimistic after yesterday's performance. After seeing BTC slip down...

Oakeso1

So I'm having internet issues which is messing me up but I attempted to post the followin,it just didnt go through: I watched earlier as BTC was heading to the bottom of tonight's drop. I saw LTC slowly grind to a halt as BTC continued to slide, and even start to move up, independent of the BTC action. You can see where I mean on the 2 hour chart comparing LTC...

Oakeso1

Here's the 2 hour chart as ler my last post.

Oakeso1

As Bitcoin was dipping to its lowest in the last few hours, I saw LTC first slow, and then stop its descent at just under 300, even as BTC continued to drop. I was expecting to see it follow BTC down as far as it would go. But I watched it grind to a stop and actually start to rise as BTC slid further down. To me, this was a significant development and a sign of...

Oakeso1

Folks, I've been saying for two days that LTC was showing short term weakness as it trends along with a weak BTC. Today, we see a slide in BTC and it appears LTC will continue to follow BTC. LTC is now dipped below 300. At what point, if any, will LTC break away from tracking with BTC and start charting it's own path? I welcome all opinions, suggestions, or thoughts.