afbitcoins (OP)
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July 09, 2015, 10:24:02 PM |
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As we all know many of us are holding Litecoin wondering how high this spike will go. Moon ?  I don't hold any Litecoin myself so I mention this only out of passing interest but about now might be a good time to start thinking about taking profits. I'm not saying Litecoin can't or won't go significantly higher but for me we are in a danger zone. Reason being this log chart.  The flatish, slightly bearish channel I've added in looks like it might be valid, note price is rapidly closing in on top of that channel, might shoot past some way, but eventually price will crash. Don't be the bagholder. Disclaimer: I offer this only as opinion I won't take blame it it doesn't work out. (But might take some credit if it does though  ) |
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necrita
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July 09, 2015, 10:38:54 PM |
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hZti
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July 09, 2015, 10:46:41 PM |
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A: The Chart analysis from this thread isn't really what you can call good B: Is this the real Fontas? Thought he was gone forever  |
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El Dude
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July 09, 2015, 11:23:34 PM |
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The halving hasn't even come and ur selling lol.
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Bitcoin and Litecoin hodler
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waterpile
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July 09, 2015, 11:41:29 PM |
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As we all know many of us are holding Litecoin wondering how high this spike will go. Moon ?
yup, the sudden spike may also have a flash dump its better to get a quick profit than none The halving hasn't even come and ur selling lol.
people don't have the same target profit. |
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Zangelbert Bingledack
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July 10, 2015, 12:04:22 AM |
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The halving hasn't even come and ur selling lol.
People have learned from the late-2012 Bitcoin halving and subsequent 100x rally in 2013 that halvings make the price go up. So now the price goes up before the halving, rather than after. In other words, it is priced in. |
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ssmc2
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July 10, 2015, 12:17:53 AM |
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The halving hasn't even come and ur selling lol.
Hold bags much? |
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gentlemand
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Welt Am Draht
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July 10, 2015, 12:21:39 AM |
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Kudos to anyone who made out like a bandit with LTC. It's nice to see some pumping action 2013 style even if it was with an alt. Perhaps it was all done to bring back an echo of the good old days.
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PolarPoint
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July 10, 2015, 01:12:58 AM |
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The halving hasn't even come and ur selling lol.
People have learned from the late-2012 Bitcoin halving and subsequent 100x rally in 2013 that halvings make the price go up. So now the price goes up before the halving, rather than after. In other words, it is priced in. I fear for Litecoin after halving. Litecoin acceptance is low and not pulling in investors. Litecoin's price is up because Litecoin daily supply will be halved and it is going to cost more to mine the same Litecoin. There is nothing more! No encourage news and no new developements. After this pumping ends, a dump will start and how low will Litecoin go this time, will it ever recover? |
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Zangelbert Bingledack
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July 10, 2015, 01:34:26 AM |
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The altcoins are so transparently narrative-driven. I looked at the blocksize debate and stress tests a while ago and concluded the next narrative would be "big blocks" or scalability, so LTC would rise. I saw LTC rise, then I thought, "Oh yes, but then the other old-skool altcoins that always rise with LTC will rise: PPC and NMC."
I saw them rise, and now I think, "Oh but they left out DOGE, which is new enough to be left out of the old skool but does have very high transaction volume, so it will eventually have a pump, too." So DOGE is probably next, though it's confounded because it's part of the "community" narrative. However that narrative is so old that people forgot about it by now (AuroraCoin and Mazacoin, anyone?), so that'll probably just delay its bump. After that it will probably be Monero (and maybe DASH) because the old "anonymity" narrative will have faded away enough because of all the recent blocksize drama, allowing them to get in on what will have by then turned into the "time for the solid alts to rally" narrative (even though Monero is probably a lot less scalable than BTC, it won't matter by then because of the new-new narrative).
This is all invalidated temporarily if Bitcoin takes up the torch for the rally, as I expect it to.
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wlefever
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July 10, 2015, 01:38:05 AM |
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Gotta admit, i've got some i'm thinking of cashing in on. With just over a month left before halving i think its peak may be a little higher, but that fall at or before halving is gonna hurt! Remains to be seen though.
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Zangelbert Bingledack
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July 10, 2015, 01:38:51 AM |
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Buy the anticipation, sell the fact.
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spiderbrain
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July 10, 2015, 01:47:13 AM |
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Call me a retard but I've got a sell order at 0.09 =)
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bassclef
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July 10, 2015, 02:25:11 AM |
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Agreed, LTC entering first stages of distribution. Build short positions on the rallies, which will have declining peaks.
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bassclef
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July 10, 2015, 04:57:47 AM |
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Agreed, LTC entering first stages of distribution. Build short positions on the rallies, which will have declining peaks.
Nevermind. The bull is still with this coin. |
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Amph
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July 10, 2015, 08:24:12 AM |
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The halving hasn't even come and ur selling lol.
People have learned from the late-2012 Bitcoin halving and subsequent 100x rally in 2013 that halvings make the price go up. So now the price goes up before the halving, rather than after. In other words, it is priced in. that's an assumption, that may be wrong, first because past history isn't always indicative of the future, second because litecoin isn't bitcoin, litecoin isn't stopping here anytime soon, 0.06(previosu ath) is surely possible it's true that people will not start to dump 1 day after the halving, there isn't this kind of logic behind trading, but we are still to far away from that point to even think that the hype for the halving is dead already... |
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Herbert2020
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July 10, 2015, 09:20:53 AM |
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i didn't even expect that litecoin could go up this way and this fast. but i am happy that i have bought some when it was low price.
but i think especially now that bitcoin is having spikes in price ($288 now) a lot of the investors in litecoin is going to come back to bitcoin. but it looks like litecoin has still some potential to go up too.
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Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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afbitcoins (OP)
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July 10, 2015, 10:08:56 AM |
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In cold light of next day I don't know if now is good time to sell. Maybe I should buy? Lol. I don't know basically.
Could Litecoin get above the channel mentioned in my OP then find support above that for a second leg up ? When is the halving anyway?
edit: Just after I wrote that look at the chart and see 20% drop!
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afbitcoins (OP)
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July 10, 2015, 10:19:06 AM |
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Well Litecoin pierced the top of my channel now falling quite steep.  Did you take profits ? Anyway I don't know if this means bull run is over, but it 'might', doesn't look good at the moment.  |
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spud21
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July 10, 2015, 10:22:44 AM
Last edit: December 27, 2015, 07:19:07 PM by spud21 |
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In cold light of next day I don't know if now is good time to sell. Maybe I should buy? Lol. I don't know basically.
Could Litecoin get above the channel mentioned in my OP then find support above that for a second leg up ? When is the halving anyway?
edit: Just after I wrote that look at the chart and see 20% drop!
It's -45.94% now on finex. Thanks for the good call to dump. I was considering buying with my Bitcoin but decided it was too risky after looking at your charts. Losing half my money in the space of half an hour would have been a nightmare. Those who bought at the bottom made good, but those who bought at the top took a big haircut. |
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