PnF TA

[hdbuck]

what does the TnA says about ltc right now?

[klee]

Cohen and Dorsey actually made a fortune trading commodities with P&F, get your facts straight man!

Dorsey wrote a book about P&F charts too. Great read if you haven't already

Yes, it was the first P&F book I bought!

His company was bought from NASDAQ this year (but of course P&F is useless for Bitcoin).

what does the TnA says about ltc right now?

Regarding BTCLTC, better be on BTC but still has support (up to 1/84):





Regarding USD, we have a triangle:



3.15+ moon, 3.05- doom

[klee]

The LTCUSD is an ascending triangle so normally you would expect a breakout upwards.
But if you check LTC & BTC history you will see they often fail downwards (and the opposite).

Can you trade this? Of course, with tight stoplosses and/or two opposite positions (one short, one long). Though in the 2nd case, the fees are an issue (if it delays to break).

[klee]

Finally, the 4h RSI was in bear divergence in ALL LTC exchanges, while BTC only in Bitstamp (Chinese were ok).

So this is another bad clue for LTC.

IMHO if BTC breaks 285 on volume probably LTC will collapse (and almost all alts).

[Fakhoury]

Klee, how are you my friend ?

What is your speculation regarding BTC now ? And what is your sentiment now ?

[klee]

Klee, how are you my friend ?

What is your speculation regarding BTC now ? And what is your sentiment now ?

Probably we will test 275-280. If we go 285+ I see 335-350$.

[klee]

Klee, how are you my friend ?

What is your speculation regarding BTC now ? And what is your sentiment now ?

Probably we will test 275-280. If we go 285+ I see 335-350$.

[klee]

[hdbuck]

i've opened some longs on ltc nao.

let the dice rolls! ^^

[klee]

i've opened some longs on ltc nao.

let the dice rolls! ^^

This is the spirit!

With cryptos only insane trades make sense...

[hdbuck]

i've opened some longs on ltc nao.

let the dice rolls! ^^

This is the spirit!

With cryptos only insane trades make sense...

hehe,

also, how about ppc? seems quite resilient despite a total lack of interest.

any chance of a mechanical pump resulting from some btc rise somehow? is the bottom in?


btw eth is crashing to oblivion

[klee]

i've opened some longs on ltc nao.

let the dice rolls! ^^

This is the spirit!

With cryptos only insane trades make sense...

hehe,

also, how about ppc? seems quite resilient despite a total lack of interest.

any chance of a mechanical pump resulting from some btc rise somehow? is the bottom in?


btw eth is crashing to oblivion

Have never looked at PPC, I will check it though later!

ETH, BTS, NXT, STR almost all cashed hard.

I am hoping XMR will make another leg down but chances are 150K will hold (unless BTC goes nuts from here which I doubt - probably we will have a pullback here or at 260-262).

[Wexlike]

*eating my hat*

I  just reentered a bitcoin position. The recent move looks quite interesting.

Sold my position, feels bubbely. Will reenter either at 270 or 420.

[macsga]

*eating my hat*

I  just reentered a bitcoin position. The recent move looks quite interesting.

Sold my position, feels bubbely. Will reenter either at 270 or 420.

FWIW: LTC is currently pumping; watch out for the next LTC dump -> BTC pump... IMHO, the higher LTC goes the bigger the leg up for BTC. This has happened so many times in the past that it's really getting boring. I really hoped for another vehicle other than LTC (ie:ETH) but didn't happen. Oh well...

[Wexlike]

You expect a higher btc price because of the ltc move a few hours ago ?

[macsga]

You expect a higher btc price because of the ltc move a few hours ago ?

Yes, that's what I think. I'm watching my own indicators and I can't say that I'm a TA expert (not even close) but I have observed that this is a common procedure. Look at the previous LTC pumps & dumps, then correlate with the respective BTC prices. They're (most of the times) connected. That's why I asked Klee to include an LTC price chart on PnF in the first place.

[ssmc2]

Speaking of PnF, any chance of an update Klee?    Still see 335-350?

[klee]

Speaking of PnF, any chance of an update Klee?    Still see 335-350?

Been insanely busy lately, apologies for disappearing from here.

There is strong resistance there IMO.

Last bearish resistance is 1d CLOSE 450$. This means that if we close more than 1d above 450 a new ATH is very likely.

Of course there are horizontal resistances (mainly 650-750 and 900-1150) but I think it will get insane beyond there.

But we have to go 325 first....

[ssmc2]

Speaking of PnF, any chance of an update Klee?    Still see 335-350?

Been insanely busy lately, apologies for disappearing from here.

There is strong resistance there IMO.

Last bearish resistance is 1d CLOSE 450$. This means that if we close more than 1d above 450 a new ATH is very likely.

Of course there are horizontal resistances (mainly 650-750 and 900-1150) but I think it will get insane beyond there.

But we have to go 325 first....

Thanks!

[klee]

BITSTAMP 1d CLOSE 2%x3



BITSTAMP 1d CLOSE 3%x3





These are CLOSE charts, it may spike higher from the resistances (both bullish & bearish). Data are from yesterday's close price (305.67$).