Staying true to the last week+ of correlations, LTC is the weakest of the BIG 3. ETH is the strongest with continuation to higher highs, BTC has a double top, and LTC has a clear lower high. This has been the pattern for a long time, and while laggard plays are certainly a strategy, I find that these crypto correlations benefit those who just play the strongest names bullish and the weaker names bearish. This is a strategy I use for stocks often as well. Go with the visible momentum. In the video yesterday I highlighted how even if BTC hit a higher high, because LTC has consolidated the most, it would be a laggard to the higher high following BTC. Recognition of how names compare is an important skill to have. I just use the chart visually and compare the time frames. You can also use the LTC/BTC ratio for some information as well. Anticipating a 4 hour tightening range today with a break tonight to indicate direction of momentum to start the week.
Call me crazy! But check this out. LTC was the laggard, then on 12/11/2017, it got pump from $157 to $310 in one day. Same happened on 2/13/2018, pump from $157 to $224 in one day. Big squeeze it due soon for LTC!
NewYork888
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Excellent post. Thank you.
colinfox
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so you think the break tonight whether a decline or rise will set that pace for this week?
UnknownUnicorn1375590
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I wonder why you include LTC in the big 3? It's not top 3 in market cap or trading volume. Although, it's existed longer than other higher market cap coins such as BCH, XRP and EOS.
gtomi001
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Good evening!My question:Time to buy or sell?
CovidScamIsAnIQTest
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May I ask if you look at LTCETH chart, it is almost time for LTC run up? Will it be a good move to sell ETH to LTC? Thank you.
TheChartGuys
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@sifeij, Not that simple, if LTC and ETH both go down, LTCETH will still go up. That can mean "less bearish" which is still bearish.
TheChartGuys
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@TheChartGuys, Correction: If LTC and ETH both go down, and LTC at a slower rater, LTCETH will still go up even though both are in the red.
CovidScamIsAnIQTest
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@TheChartGuys, Got it, you are talking in terms of USD I suppose when you say "red". Thank you for replying.