LBRY (LBC) Update: Double Cup & Handle!!! Unusally BULLISH!
)
SUMMARY
LBRY (LBC) is correcting by forming the handle of a smaller cup (white). It's only a matter of price putting in the handle formation before impulsing upwards. Target remains $1.37. Note how the much larger Cup & Handle (blue); price should soon exceed the top point of hte blue handle! The bullishness of this setting is IMPRESSIVE because double cup & handle is unusual!
Talk about double Cup & Handle! I've drawn a forward discerned (white) cup & handle and if wave 2 coincides with wave the handle formation, then then wave 3,4,5 should target 0.00122 BTC!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
Li... Li... Libra... no Litecoin?
Dear Master,
What's your TA on LTC? It looks like a very huge wave 3.
https://www.tradingview.com/x/tNc8POTk/
How do we set the wave 5 target? Wave 3 is 1.618 or 2.618 of Wave 1 length? Thanks
Wow, Litecoin is surpassing BTC in volume now :-)
I'm wondering if someone can explain what the relevance of the USD price is on Haejin's charts?
There is no USD market for most of these coins (like LBRY for example) so why does he do a USD vs coin price and then a BTC vs coin price?
In other words, what's the point of having the USD price when you can't sell the actual coin for USD anyway?
Any help much appreciated, still trying to get my head around this and can't find anything searching online.
I think because the price of BTC is always changing, the USD will be a better reference, I usually use USD charts and then USD to BTC converter to set my BTC buy or sell price, maybe there are better ways, or i am completely wrong but seems like its going well so far.
I see, maybe what your saying is correct- that it's a more stable reference for the price of the coin if you sold it for bitcoin and then changed the BTC to USD?
I just don't understand how the price can be different for a USD amount vs the btc amount.
So you're basically saying the USD is the price you'd get for that coin if you converted it to BTC and immediately sold your bitcoin for USD ?
Thanks again Phuzz, appreciate your help !
Nice one
Yes, the sell price will be the USD sell price in BTC.
To make the example easy, Lets say 1 BTC = 1,000 USD. and 1 Litecoin = 100 USD, this will make 1 Litecoin equal to 0.1 BTC, so you set the sell price at 0.1 BTC, but next day BTC "Kaboomed!" and went up to 2,000 USD, this will make your Litecoin worth 0.05 BTC instead of 0.1 . even though it is still 100 USD so you position wont sell. So referencing the coin to USD seems to hold the "actual" current value of the coin in a way.
I’d very much appreciate if I could get an explanation how to set stop loss and limit orders in case of alts related to btc. How do I count the future $ price if btc is changing all the time?
Couldn’t find any explanation anywhere. Really counting on you guys here:)
In pairs where USD is available I use that, when I pile up some USD then I buy chunks of BTC if the price of BTC is good at the time, or if one of Hajeins' magical posts shows a price jump of BTC, I buy BTC with the USD I had earlier and sell at the higher BTC price. For me, It is working best with USD pairs on Bittrex.
I get you now. Thanks so much for your generous explanation.
I wish you massssive profits!
it gives a more visual picture of what is happening. Bitcoin is in space compared to usd, thus it takes so much longer to show on BTC graph.
Haejin, would it be advisable to put a small part on this trade now?
@haejin speaks and LBC delivers, LOL.
Was never interested in LBC so far, wondering if it's something that's holding long term rather than just trading?
downloading now, i have a feeling that this could really be a sleeping gaint, and i mean gaint.
so much potential in this coin...i've been watching it for months and there is always buying interest...i can hear the engines rumbling
FYI.....He's big on this one.
i know i was laddering this bad boy for weeks...looks like today is just the beginning...awesome to see it as one of the leaders tonight :-)
and would you look at that.....a VERY SEXY FRACTAL!
UH GET READY CAUSE UH HERE I COME GET READY GET READDDDYYYY
No doubt ...lookin tasty!
I was looking this morning on TabTrader and the chart looks sooooooo ready to give back about 8x......I'm hanging on tight to this one.
Totally agree scarlet...still looks good to me right now...not sure if it will have a set back if BTC launches but regardless, there is still buying interest in this coin..saw some good clients coming on such as "the Rubin report" and others
https://www.tradingview.com/x/zU492pOT/
Nice! Yeah....I'm anticipating a small dip from the rise of BTC myself, not worried about it though!
Can u add hurry up & panic syndrome somewhere...lmao
Wow, and I thought I missed out on this one. It just gave me a second opportunity.
But could that be an ABC correction it's doing now? If so, then we should be close to nearing the terminal end of wave C.
0.00122 isn't this $24.00?