If/when LTCCNY breaks up out of this triangle at about 34 cny, I hope you will be long! (I've been long for a while) I have a target of ~74 cny, stoploss. Corresponds very closely to 1-1 triangle breakout, also old S/R level, and finally 1.618 fib retracement from last July's peak. It's looking very promising with daily RSI crossing into overbought territory which usually happens at the beginning of the really big LTCCNY moves.
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Well, finally LTCUSD has solidly broken the triangle, just waiting for CNY to follow whenever okcoin/huobi open BTC/LTC withdrawals again. tradingview.com/chart/w3QyhiLB/
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Well I guess I jumped the gun a little bit with the breakout, but it's happening now! Finally! :)
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1:1 Triangle break target hit, sold. Looking for retrace to 40 CNY unless UASF Segwit is announced soon. Looks like Jihan and co. will keep doing everything they can to block Segwit signalling. Too bad... Still expecting 15-20$ LTC after Segwit.
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Didn't make it anywhere close to 40 CNY. Re-bought and holding. Still expecting at least 21$ in the coming weeks. Long term there could be potential for new ATH
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This is what I'm thinking for the coming months in LTC
Ouch! Well that was a huge shakeout... I'm still bullish long term though
AndreyDrogal
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@zmm20, omg you failed again. Trading with LTCCNY is not for you.
cryptographic1
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@AndreyDrogal, Just gotta be patient bro :) 70 CNY incoming
atractor19655
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@zmm20, I dont think so. LTC is dead. There are many new innovative altcoins on the market and money going to them. LTC had no code, no idea. Simply copy-past bitcoin code and nothing more. Who needs to buy a cheap fake, which was done in a few minutes? No one.
What is why LTC will go down.
cryptographic1
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@atractor19655, well, I may have jumped the gun a bit with my chart, but here we go :)
cryptographic1
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@atractor19655, and, even if everything you say is true, which it's not quite, no one cares. We're going up
cryptographic1
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@atractor19655, bwahaha ltc is dead... ltc will go down... nice call :-p