LTC moved negative with the broader crypto market. I highlighted the Inverse Head and Shoulder pattern, something I have failed to note in my prior analysis because I was focused too heavily on trend analysis. I have moved the Primary trend line to coincide with a Perceived new trend and channel forming which is easily seen on the chart. We are likely to fade lower towards the rectangle box with support at $30.70. I feel there are plenty of buyers in the boxed area including myself. For now, I am holding long and will Dollar-Cost-Average if we explode lower.
The entire crypto market takes its marching orders from the big dog, BTC, as well as negative news e.g., successful crypto hacking attempts. I hope you know what I am talking about. This makes TA on most of the alt-coin extremely difficult. The reason I hold more than just one alt-coin is that every now and then one alt-coin tends to separate itself from the pack, and for a minute or two decouple from BTC and move independently. I recommend you have your sell orders set to let some crypto go for the profit taking while leaving a bit on the table so we can weather the volatile storms ahead. 2019 is going to be a tough year folks and January is proof we are going to have some euphoric days along with some gloomy days.
Outlook: Neutral to Bearish. A break of the NEW primary trend will just see more sideways action. Volume is receding and price tends to fade lower towards the POC (not included on this TA). I like this alt-coin and will buy even on significant moves lower. Stay strong and stay long -- we will get the right trades and sell at the best times for some short term profits and long-term gains! I am gambling we trade the new channel that is forming!
Best,
Biff
I am a volunteer with the Sherrif's Dept. and have been very busy on patrols. I will start posting some of the beautiful landscapes and rural areas I patrol for the people who follow me on twitter. While I am busy catching the bad guys, my mind is always on trading!
The entire crypto market takes its marching orders from the big dog, BTC, as well as negative news e.g., successful crypto hacking attempts. I hope you know what I am talking about. This makes TA on most of the alt-coin extremely difficult. The reason I hold more than just one alt-coin is that every now and then one alt-coin tends to separate itself from the pack, and for a minute or two decouple from BTC and move independently. I recommend you have your sell orders set to let some crypto go for the profit taking while leaving a bit on the table so we can weather the volatile storms ahead. 2019 is going to be a tough year folks and January is proof we are going to have some euphoric days along with some gloomy days.
Outlook: Neutral to Bearish. A break of the NEW primary trend will just see more sideways action. Volume is receding and price tends to fade lower towards the POC (not included on this TA). I like this alt-coin and will buy even on significant moves lower. Stay strong and stay long -- we will get the right trades and sell at the best times for some short term profits and long-term gains! I am gambling we trade the new channel that is forming!
Best,
Biff
I am a volunteer with the Sherrif's Dept. and have been very busy on patrols. I will start posting some of the beautiful landscapes and rural areas I patrol for the people who follow me on twitter. While I am busy catching the bad guys, my mind is always on trading!
Comentarios:
LTC falling with the broader market. We broke the trend and now risk breaking $30.00. Keep your alerts set!
