Time to convert Litecoin back to Bitcoin

[afbitcoins]

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 brought at the bottom made good, but those who brought at the top took a big haircut.

Thanks spud. Sometimes its a bit scary making predictions like this in case I get it wrong. Glad it worked out this time.

[doc12]

My god that dump was fast  and hard    red dildo party 

At least I managed to exit at 0.026 and took some profits 

[SparkedDev]

My god that dump was fast  and hard    red dildo party 

At least I managed to exit at 0.026 and took some profits 

Well yeah big holders in the coin.
People should have known someone big was going to come in and be like here is my big floppy earnings and rape the market.

[ssmc2]

lmao

[tss]

My god that dump was fast  and hard   red dildo party  

At least I managed to exit at 0.026 and took some profits  

Well yeah big holders in the coin.
People should have known someone big was going to come in and be like here is my big floppy earnings and rape the market.

someone just cashed out BIG time.  wonder if others will follow and the drop will continue or ltc will resume the slow rise?

[afbitcoins]

As pointed out earlier halving hasn't happened yet, additionally litecoin is most established crypto after bitcoin but without the blocksize debate dragging it down. Also Litecoin has started from such a hugely depressed price there is still a long long way to go for new all time highs. So there are still bullish arguments in play. But looking at chart it does look like that may have been the peak for this spike..

I made prediction of price drop based entirely on the chart, and to me that channel looks valid. It is a big ask to get above that level. But you never know it is possible.

[spazzdla]

This will be known in LTC circles as the ultimate bear trap..

I'd consider selling still with a rebuy at something like $3 and a "stoploss" at $6.  

[tomothy]

My god that dump was fast  and hard   red dildo party  

At least I managed to exit at 0.026 and took some profits  

Well yeah big holders in the coin.
People should have known someone big was going to come in and be like here is my big floppy earnings and rape the market.

someone just cashed out BIG time.  wonder if others will follow and the drop will continue or ltc will resume the slow rise?

I think this is what everyone is wondering. Sitarow has an interesting post in 'wtf is happening' and 'wall observer' discussing how a similar tactic was used before to attempt to stimulate btc demand. It seems evident that the ltc/btc drop resulted in pushing btc/usd up... albeit briefly... and is still going sideways but a few bucks higher than before.

I'll admit, I was thinking we would drop farther with ltc/btc to maybe .015 or .016 and i've been surprised by the relatively 'constant' support and buying pressure. I sold some at .02 but it seems like that may be the new sideways marker. I'd guess that maybe we start to see some action in ppc or even nmc before they start pushing ltc again. Maybe wait for people to open both longs and shorts. It just seems like the dumpage is over far sooner than it began. I guess I was expecting some more volatility.

 Thoughts as to where we go from here? How long until NY implements bit license? I'd be interested to know what will happen to various exchanges once NY starts to ask for a piece of the pie...

[bytezero]

Uptrend is clear. Many traps happened in the last week. Sorry for those who sold , expect a $350 next week.

[wlefever]

Uptrend is clear. Many traps happened in the last week. Sorry for those who sold , expect a $350 next week.

Just HODL

[Richard Branson]

Uptrend is clear. Many traps happened in the last week. Sorry for those who sold , expect a $350 next week.

350$ Litecoin! Stop dreaming.

[Terwa]

Where can i short ltc?

[gentlemand]

Where can i short ltc?

Lots of places. Poloniex, Bitfinex, BTC-e. Most of the Chinese exchanges like OKcoin will do it too. You're spoilt for choice.

[Chef Ramsay]

LTC selling seems to have subsided for now right around the 61.8 fib retrace, possible upwards movement to continue. just sayin

[MrBig]

I actually logged into btc-e for the first time in months today and found that all my LTC sold at 0.03. I think I made that order last summer or in the fall lol.

[Chef Ramsay]

If ya look at the 1 week chart that recent red dragon looks very intimidating in ltc/btc. Yet, it does appear that the retrace is holding and looking up which means this could be a good re-entry point if you're looking to make a play on litecoin again.

[doublemore]

If ya look at the 1 week chart that recent red dragon looks very intimidating in ltc/btc. Yet, it does appear that the retrace is holding and looking up which means this could be a good re-entry point if you're looking to make a play on litecoin again.

Imactually still bullish on litecoin at this point, the buy orders have been growing and with bitcoin stable its perfect market conditions for more action.

[freedomno1]

My god that dump was fast  and hard    red dildo party 

At least I managed to exit at 0.026 and took some profits 

It was to be expected honestly that was one of those trendlines where you know its coming but its a game of chicken until it happens.
Kind of reminded me of the good old days when Bitcoin had a flash crash or two after a nice price rise though so its a plus for Litecoins history
At present neutral not sure how far it can drop from here and how much is actual litecoin gains.

[findftp]

Where can i short ltc?

Leveraged short at bitfinex

[Terwa]

Where can i short ltc?

Lots of places. Poloniex, Bitfinex, BTC-e. Most of the Chinese exchanges like OKcoin will do it too. You're spoilt for choice.

Leveraged short at bitfinex

Thanks!!
I didnt read the post