So, what are you trading for, Afrikoin?

Actually, that reddit advice is great, once you figure out the dominant trend. If it's a bull market, you buy and hold; if it's a bear market, you sell and hold

Si eu ma gandeam sa cumpar una alta, sa stimulez putin economia, insa ma vad in fata unei diferente de 6-7%. M-am oprit din a finaliza comanda de mai multe ori din acest motiv, e mult prea mult.

You must have never lived through fomo, if you think this is anything like it.

I don't even raise an eyebrow when looking at the price, and I expect to be mother fucking amazed and in awe before the market turns.

I was reading the last few pages and been thinking exactly the same. People are desperately hoping for a dump. I don't mind one, but I find it unlikely.

I'll be selling at $50, but until then, all eyes on BTC

Why the rush? The market is actually proving him right, day after day...

Bears are good for the price; it's their money that's fueling this rally

The chinese trade crypto IOUs. First they have to allow withdrawals in order to become relevant again, then traders might give a rat's ass about their fake volume exchanges.

BTW afrikoin, I have a feeling you won't cut your loose at $1260

Around $1500, but it's hard to tell. If there is fomo, it could extend considerably further.

My main count is blue, and has been for a very long time now.

The AO (similar indicator to Elliott Wave Oscilattor) indicator gauges the strength of a move, helping one get a feel where the market is inside a wave cycle. Normally, AO makes the highest high at the top of the 3rd of 3rd (also known as the moment of recognition). As we can see in the image, AO has not yet made a bearish divergence with the latest ATH, meaning that the last wave was only the 3rd of 3rd, or even a subwave of the 3rd of 3rd, in case the next ATH makes another extreme in the indicator. At the same time, we can see that $891 bottom had more selling power than the $751 bottom, but made a higher low. This presents a hidden bullish divergence that is usually found during 4th waves, explained by the fact that demand moved higher up, and buy support picked up all the excess selling.

Thus, in case of blue, next ATH top should present more fomo (which is the usual topping sign of a bitcoin 5th wave) but make a divergence in the AO, indicating that the buying power is depleting. Afterwards, an even-longer correction should take place, that will most likely not go below $891, and then it's time for the (5), which could also extend (another amazing feature of bitcoin rallies). All in all, this could take another year, year and a half to finish, in which case I would assume that the bears will be exhausted by the time the trend changes, similar to bulls during the last long-term bearish correction.

The other count on the chart is brown, which I find unlikely for various reasons, but could be accepted as a completed impulse. In this case, my 4 is an A, this current move up is a B and the total correction would be a wave II, and will most likely last for 9-12 months. The guidelines say that the low should still be within the limits of the previous wave 4 of a lower degree, so between $780 and $500.

Happy trading.

One just needs patience, even if he buys the top, since we're in the "dont sell the bottom" part of the market cycle.

Dump below $891 and I will change my stance.

Everyone can trade with hindsight, but actually going long at .004 and below was a very, very risky proposition due to LTCBTC being in a bear market. What guarantees would one have that the price wouldn't simply go to .002 (I don't count polo's lack of liquidity low as valid, so, for me, 0.003 is the bottom). Your assessment sounds similar to someone claiming "time to go long on BTC was at $200", which is definitely true. But it was a good moment to go long at $400, $600, $800 and even $1000. Basically, it's been a good moment to long in the past year and a half.

Anyway, you didn't answer my specific question and the only thing I was interested in, which was a second opinion on the market, based on charting and interpreting PnF, at which I'm very much a novice.

Thanks for your time and other input, highly appreciate it.

Huh? I thought price rises exactly for that reason, that whales have accumulated and need to take it (trading) considerably higher in order to sell at a profit?

I've been heavily long since .004, scalping the last few waves with more or less success; I feel like I'm still on the right side of the market, just wanted a second opinion from a different perspective of TA.

Can you give me one, excluding your (unjustified) bearish bias?

What do you think about the potential bullish catapult on both ltcusd (on a break of $12.1) and ltcbtc (on a break of .001)? Is it something you're interested in trading?

Most of the times, the end of a bearish correction is not at the lowest point of where the market went.

If this is not an impulsive move up, are you really denying that crypto is in a bull market?

It's good to see the bears are still hoping, that strengthens the claim of the bull. The only time where one needs to be really wary is when everybody is convinced that all is rosy.

Well, nobody can say they didn't get good advice from this thread

All he doesn't like is something that breaks his miners' advantage. That's the pickle right here, I think you make it sound too complicated when, in fact, it's quite easy to understand.

I reserved a first class seat on the moon train. Better not be disappointed!

This is my long term chart of ltcbtc

There's the downward channel, that's my buy zone, there's the divergence in selling power during the last years, and the resistance around weekly 100 and 200 SMA.

If SegWit is activated, I see no reason why the price wouldn't break out of the channel and probably make a new ATH.

The LTC UASF situation is much different than Bitcoin's. For now, in BTC, there is a stale mate between miners so any attempt, be it UASF, BU HF or whatever is doomed to fail until there is a clear winner.

Litecoin on the other hand already has ~70% of the miners behind SegWit (and others that want it are not signalling yet, like ProHashing), want development built on top of it, the community wants SegWit and economic nodes want SegWit. One person blocking this cannot stand, and he won't be able to do anything about it.

If UASF is enforced and Jihan does not upgrade, he will fork himself out and mine an empty chain that nobody is using, similar to how LTC was not very long ago. Meanwhile, the other miners' profitability will go through the roof, as ~25% of the hash power has suddenly stopped competing for blocks.

Btw, I want PoW but I'm also interested in your concept. Can't wait for it to be out into the wild.

Regarding price action, litecoin has broken out of the ~2 year downtrend in ltcbtc, and broken a ~2 year consolidation around $4 and the previous high at $9.  Fireworks are to be expected, but it might take a few more weeks to get there.

But I think you are wrong regarding UASF. What is currently going on is a hostage situation where 1 man is holding back an entire network. Two, actually.
You say "immutability", I say "his own benefit". Who knows what it will be next, and before you know it, he's in bed with certain entities.

UASF is, currently, the best way to put him and other mining entities back in their places and set a precedent, as a warning to anyone that attempts to attack the network. And, strictly from a speculative pov, people seem more than happy to put their money where their mouth is wrt this UASF event, opposite of your claim that people don't want to store value on a democratic chain.

While Bfx are definitely crooks on so many levels, how exactly are they screwing up in this situation? A bank that they are not banking with is blocking their wires.