Predictable Volatility and Swings as Whales fill up their LITECoin Picnic Baskets...

in #litecoin10 months ago

There are still sufficient outflows from coinbase to sustain the rally a while longer. Most of these "sell offs" appear to be market manipulation designed to swing the price of AltCoins. If you look at the buy and sell order for LiteCoin they are all huddled in teh 155 to 165 range.. prior to that it was 145 to 155 range.. each massive sway of BTC drops the price in LTC so as that it fills all buy orders outstanding. Even now with BTC at 41x LTC buy orders are in the 162 range even though the price is in the 175 range. The goal of these mega whales and institutions is to create a small panic sells in the market without actually tipping it that create a situation where minnows sell into their standing buy orders on the ALTS.. set buy points 6 or 7 percent below price on ALTs and just hang out and wait for the mana from the sky to fill up your basket..

buyorders (2).jpg

Looks the same on all exchanges.. price is 178 currently.. so swings to low mid 160s will be the norm till we hit the next tier which will be 190's.. then we will swing into the mid 170s.. currently look for sells around 180... once the whales have filled their baskets.. BTC will trade sideways for a few days and LTC will bump to 225 or so.. then more wild volatility swinging to the 180s... and back.. before stabilizing around 205 to 215 for a while..

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