LiteCoin (LTC): When in Doubt...It's a Triangle!steemCreated with Sketch.

in #bitcoin5 years ago

SUMMARY

Litecoin (LTC) seems to be displaying all the signs of a triangle consolidation. If you only and constantly stare at the chart using 1 hour or 15 minute time scale..you'll never see this pattern. I always start at the daily time scale to look for the big picture and that's when these patterns can be discerned. The chart below shows that waves c,d and e still remain incomplete. Time is needed.

The below chart is that of the LTC/BTC pair and as usual, it's lagging the LTC/USD. Still, forward discernment can be used to plot out a triangle pattern, given that the USD/BTC pair leads. As the chart shows, the b is just done and c,d,e remain unstarted.

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Hi Haejin,
I bought additional 83 LTC today at $250

I charted LTC today and set ladder down buys at $206 / $186 / $166 for 300 more LTC.

Steemit - thankyou U5dtq1a8QL4tDnQqpXQ7CXBYXRz46tm.gif

@haejin, what direction will the break of the triangle lines be? up/down?

When in doubt it’s a triangle ABC D

Great Post!. Interesting Story. I want more of this. Keep it up

I sold some LTC at $100 :( :(

I believe in litecoin in the long run.

...but does Charlie Lee believe in it lol. We’ll see what happens once the Lightning Network is in full swing. I’d love to change BTC into LTC and then back into BTC to save huge transfer fees

Charlie Lee believes in litecoin 100x more than Justin Sun believes in Trx.. (I am holding both)

Charlie Lee, Bruce Lee, it doesn't matter, it will go up!

Love the optimism, but really hope we get some good news about industry/business partnerships.

i know kung fu! do you? you might need to protect your cryptos!

So many Lees... The price moves like Mr. Lee Noodles :)

I'd like to present my alternate count:

Screen Shot 2018-01-08 at 2.07.47 PM.png

Please Like My posts I liked you

There you go ha

Please like mine as well :)

Litecoin was my first investment and I am holding it since then. I am convinced that LTC is still not getting the credit it deserves!

Totally agree

I believe in a lot of coins in the long run (profit speaking) it is knowing when to pull out and rebuy that's the key. After watching many of haejin video, yes I'm beginning to see where I should sell now... Buying is the easy part, when to sell is the tougher part. Before I use to HOLD long term, now I sell high and take the profit or reinvest into Litecoin (or any other coin) at its lower base. Which usually means dip four's height (from the rise) on the correction side.

Litecoin has a great potential in this 2018 and you are confirming this with your technical analisys

Good post :D

If china does so, they will miss out on a extremely profitable business - unlikely. But if they go ahead, imagine the profitability for miners on the entire planet skyrocketing. The network will suffer for a time, but surely many people will grab the opportunity to mine digital gold :)
On LTC i agree with the charismatic @haejin, Litecoin is gathering strength and not just charging like a bull :]

Miners have had unfair advantage for years due to heavily subsidised electricity. This is just redressing the balance. It’s good news for the network as less mining power will be centralised leading to a more decentralised network.

you have to differentiate between Chinese people and China government. the government is literally tightening control over everything, especially finance.

Yeah, but still bank of China banning it. Goddamn bankers greed to keep the power. Why I don't invest in ripple or save my money on a bank.... Ever again....

Relax. Just buy some more EOS and Litecoin. ;)

Yeah...It's been happening for awhile. China was the reason for that big Bitcoin dipped last year.

Well, keep cool and let's see. I think LTC will still be good, it has utility and there's always Bitshares!

it is not the bank. it is the China's government. Major banks in China are stated owned. China government is tightening controls in everything, especially financial area. they can't afford another massive capital runaway like last year.

This might be good news for miners everywhere else. Less miners would probably mean lower difficulty.

@haejin Got SALT ???

Sold my LTC for Dash... Let's see what happen...

Oof! I think you traded one cryto with a rocket under it for another with a rocket under it. They're both poised for greatness. I'm thinking Dash will soar first and if so lucky for you. Really though I hope you kept at least some LTC in your pocket.

Yeah, why not just get both and hedge?

Well I forgot my passwd for one LTC wallet...

Dash is promising instant transactions ... we'll see I'm holding a some dash as well!

Looks like a great buy for today, like smartcash

Thanka for sharing

would you check out Decred (DCR) ?
is a correction close? got a bunch of them but would like do stock some more, and how about DASH?
@haejin
thanks

Thanks for your Litecoin analysis!

Could you please do an update on Omisego?

thank you

Fundamentally, do you see LTC losing its luster with ETH gaining more and more exchange pairs? Lightning network is still hanging in the air too, but my guess is a working and widely-used application of it will come in mid-2018.

Other interesting things like OMNI and RSK-built swapping could disrupt markets too; hard to tell which coins are used for exhanging vs speculation nowadays with volume all over the place...

thanks for your analysis mate! Really useful! Upvoted! :)

This is how Lightcoin got out of ever increasing in size triangles back in 2013

https://www.mql5.com/en/charts/8137498/ltcusd-d1-simplefx-ltd

bc u mentioned litecoin, the coin of 2017, we're introducing the new shift in 2018 cryptoworld and it's possibly what's causing today's decline in crypto...

https://steemit.com/bitcoin/@harpooninvestor/cryptocurrency-bitcoin-selloff-today-tron-based

Thanks haejin. I like LTC and first had them in 2013, then lost 2/3 of them to the FBI when they seized the servers of BTC-E Exchange in March, so they are happy too. :-)

Excellent post Thank you for your post has been upvote and follow

Litecoin has done remarkebly well over the last few months and held it's price well against BTC and ETH. I think it is fairly to say it will hover around this mark for a while yet. It is a great coining for moving funds around the market cheaply and with speed. I believe in the coin for log term growth.

These alt coins are going big and I think 2018 will be the year of cryptocurrency. As there are predictions that bitcoin will again reach at all time high of 20000$ so do LiteCoin as well, But I think putting all your eggs in one basket will be good here as that basket is bitcoin for me. Believe in bitcoin :)

Could litecoin be the betamax of cryptocurrency?

Will LTC hit $1000 by June 2018?
pray.png

I would not be surprised if it did hit 1k. I believe it will be somewhere bewtween $500 and 1000$ maybe higher if some adoption for payments happen. I already use it to move money to exchanges because of the BTC fees and slow confirmation times.

Most Definantly

@Haejin Thank you for all your posts! They've been very helpful. Anyone into cryptocurrencies should follow and listen to Haejin. #Killingit
May I request an update on NXT? Cheers!

The thing with Litecoin is that it is too good. It already works. If you look at CoinMarketCap for instance most is invested in fairy tail coins, those rise like crazy while established, working coins like LTC are the underdog...

I love Litecoin. To the moon!

LTC has been under the radar, soon it might give us a surprise, hehe

Just need patience with LTC, thanks Haejin!

Very nice info. We need to buy litcoin. By the way since litcoin is outtheir floting without an owner. It is a great coin for any reliable company like Facebook. It is a good coin to be used as an independent coin. It thanks to mr. Lee. That is sold all his coin it is a time for the coin to become the best candidate to be used by any company as well as any company. So lets buy the coin.
Lets do it

I am totally investing in Litecoin for long run

Haejin, I think LTC is the most perfect example of Elliott Wave.

What do you think?Screen Shot 2018-01-08 at 12.24.52 PM.png

Looks good except that wave 3 shouldn't be the shortest. I think you correctly identified it as a 5 wave impluse, but you messed the exact points the wave should go. If in doubt, zoom in and count the subwaves. There are 5 subwaves in each of the motive waves.

what software you use for the analyse? thanks

I like litecoin for his fast transaction and cheaper transfer than Bitcoin. Based on your graph, does it mean that BTC is still closely tied with LTC? Recently, I have been seeing LTC still staying up while BTC is on the red. It looks like LTC may have a different trend in the near future.

Bitbean update? Much respect @haejin, you handled that like a master!

I wonder why you dont post about coin that is going to go down.

Triangles FTW!

hahaaaaa, made chart for practice and had same idea! thanks for this one, confirming my lessons for today :)

@haejin are you in russia right now? :D

Good job....
Thank haejin

I wonder how likely this scenario would be? LTC ltc2.png

I believe a,c,e has to be touching the same resistance line, like haejin's models.

thank you for the analysis.

Always appreciate your post thank you haejin.

This play is all about the 'hurry up and wait', but I do see the final outcome will be significant.


Would like to sneak out of litecoin and jump into steem. So darn many good coins nowadays. If only we could figure out a way to track the action of each coin sequentially. On the other hand, who could ask for more than a market like crypto - crazy profitable. Has anyone noticed Neblio?

Litecoin will do just fine.

thank you for the update👍..upvoted

Hello Haejin. I think STRATIS (STRAT) has broke a resistanse. You never analyzed it, is going to rocket!

Scary ! Thank you.

Litecoin could serve as a good alternative to bitcoin. For the triangle? Too eratic for my liking.

I think regardless of the short term I think it will go at least 4x this year.

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Thank you for this information

Well I think that the Litecoin is giving a lot to talk about in the last two months of 2017 gave that talk was the stable year between 40 to 50 USD. But finishing the year has reached 300 USD

The Litecoin in the middle of this year will reach 500 dollars and will see its high demand thanks to its rise.

GREETINGS FROM VENEZUELA. I HOPE THAT WE CAN CONTINUE READING

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Very helpful, as always, thanks!!

Great analysis as usual haejin! It was a tough day for cryptocurrencies today.. anybody knows why?

I'm planning to be a BTC Millioner soon!

Thank you Haejin.

I like to think of LiteCoin as the Silver of precious metals, it will never be as high as Gold but a steady staple.

Litecoin will generate awesome gains this trae!

LTC is better now

Can you do CLoakcoin (CLOAK)?

Nice 😉 check my channel and see my food posts 🙏💘

I’m all set with Ltc and just waiting for it to fly 😍🤑

how the hell you make 500 a post? How do you get so many upvotes for gobledygook?

Dear Haejin,

I just sent you some Ether beer money. Thanks so much for your tireless work!
Brian

Thanks! Liked and voted! Now let’s check Dash/ zcash/ monero/ zcoin

Thanks Haejin. Got any update on CVC? Is it in a triangle?

Great post and really helpful one. Thanks for this piece of writing.

I still love LTC. Buying and holding on the dips for long term. Thanks. God Bless this Steemian Community

Any update on RISE?

it will rise, because it's the rise

The More you HODL,More you will be rewarded.
LTC is the new btc.

What do you think, how will the indicators change in 2018 and what can affect them?

Re-Steemed Interesting theory, I believe that LTC will soon reach over $1,000 USD in the very near future.

Thank you @haejin. I am looking forward to upwards movement in LTC. To paraphrase you, the news will arrive to justify the move!

LTC was one of my first purchases. I spent $20 and it went up to $120 in less than 2 months.

Thanks for sharing...

Litecoin payment is already popularized by Litecoin payment processors like Poof https://www.poof.io/.

Tons of institutional litecoin https://www.poof.io/litecoin adopters using Poof or Coinbase.

Litecoin payments will definitely pick up with the mimblewimble upgrade.

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