Litecoin is officially dead - page 101.

Searing

copper member

Activity: 2898

Merit: 1464

Clueless!

Quote from: bitboy11 on July 10, 2015, 11:34:51 PM

Quote from: sidhujag on July 10, 2015, 04:58:24 PM

maybe it will finally hit my target < $1

+1

I need it to go back down so I can buy again before the next pump.

I jinxed the works

I was looking to sell at 8.25 or so LTC fell asleep with laptop in bed ..put laptop away went to sleep woke up it was like 4.70 or some such

sheesh...an expensive nap

so yeah it better come back up or I'll be waiting for at least 6-7 buck coin till 2017 or some such silliness

X68N

hero member

Activity: 672

Merit: 500

Quote from: Nxtblg on July 10, 2015, 09:22:17 AM

Quote from: reRaise on July 10, 2015, 06:37:26 AM

Quote from: X68N on July 10, 2015, 06:34:33 AM

Actual news, Litecoin rating droped since weak hands cannot carry bagholders and exited at 0.030 Wink

But no need to panic for now.
The rapid rise has called for a correction. from 0.325 to the 61.8 Fibo level is 0.0200 if this level breaks then, well shit Wink

lol fibonacci is so overrated.

Never saw how it tied into people's actions myself. One of the virtues of the "classic" book on technical analysis is that the authors made an attempt to tie the chart patterns to how people actually behaved. (So did the late Harry Browne, by the way.)

Case in point: a "resistance" level is a price where a lot of selling power coalesces - meaning, that a lot of people (or some biggies) have a fondness for selling at that price. Vice-versa for a support level & buying.

One of the charms of technical analysis is the reasoning-in-a-circle aspect of it. I.e., "if enough people believe in Fibonacci levels, then..."

Here i made a image to explain how i use it.
Its just a graphical approach to not calculate every time in the head risk-reward and retracement related questions.
There is no magic, just a pratical tool

This approach explains the Extension.
The Retracement works for the question where to enter on Retracements and where to put Stoplosses in Trends.
Chart is M15 Eur/USD

bitboy11

hero member

Activity: 534

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Quote from: sidhujag on July 10, 2015, 04:58:24 PM

maybe it will finally hit my target < $1

+1

I need it to go back down so I can buy again before the next pump.

NattyLiteCoin

hero member

Activity: 912

Merit: 1021

If you don’t believe, why are you here?

Quote from: Southpaw0 on July 10, 2015, 10:52:14 PM

Litecoin seems to be making a comeback these days.. might be time to buy Wink

Survives biblical dump and almost up 10% after a Chinese cup of coffee? Well keep the Titans on.

Southpaw0

legendary

Activity: 1318

Merit: 1010

666 - slave 2 the grind -

Litecoin seems to be making a comeback these days.. might be time to buy Wink

bit1

legendary

Activity: 938

Merit: 1000

Quote from: zz11 on July 10, 2015, 03:21:52 PM

The OP is now a barrell of laughs. I wonder if the thread starter had managed to get a position before the 4x rise.

Having said that there will be steep corrections now which have already started so dont get caught holding the bag.

I think that answer is not at your doubt:

thread starter had managed to get a position before the 4x rise.

Only remember that all coins even BTC were on low critical levels at months previously to July, Even today some peoples think that LTC is dead, anothers that BTC is dead, etc.

Tinkles

full member

Activity: 126

Merit: 100

It doesn't look dead lol Grin

Za1n

legendary

Activity: 1078

Merit: 1011

I think it is a long way from being dead, just a much needed pullback.

This is the time to buy if you ask me. Don't go in all at once, but come up with some type of plan to invest. Dollar cost averaging is your friend.

Nxtblg

legendary

Activity: 924

Merit: 1000

Quote from: zz11 on July 10, 2015, 03:21:52 PM

The OP is now a barrell of laughs. I wonder if the thread starter had managed to get a position before the 4x rise.

Yeah, but threads like this are very educational in their way. When they become filled with "oh yah, it's really dead this time" and threads like it proliferate - and all this takes place while the market is flatlining - then you should seriously consider buying some.

Had I followed my advice & followed through by buying some LTC, I'd be a happy fellow now.

sidhujag

legendary

Activity: 2044

Merit: 1005

maybe it will finally hit my target < $1

spazzdla

legendary

Activity: 1722

Merit: 1000

Quote from: zz11 on July 10, 2015, 03:21:52 PM

The OP is now a barrell of laughs. I wonder if the thread starter had managed to get a position before the 4x rise.

Having said that there will be steep corrections now which have already started so dont get caught holding the bag.

Watch this bear trap, the likes to which the crypto world has never seen.

kaykawa

hero member

Activity: 574

Merit: 500

lost $44 with ltc

Gillette

hero member

Activity: 744

Merit: 500

As the pump is over, yes it`s dead now!

zz11

sr. member

Activity: 299

Merit: 250

The OP is now a barrell of laughs. I wonder if the thread starter had managed to get a position before the 4x rise.

Having said that there will be steep corrections now which have already started so dont get caught holding the bag.

usairx

full member

Activity: 206

Merit: 100

I have a feeling litecoin was pumped by chineese exchanges (okcoin!) and because its such a small market and there are so few exchanges, the rest of the market just jumps on the bandwagon.

X68N

hero member

Activity: 672

Merit: 500

to the fibonacci, yes self fullfilling prophecy plays a role for the .38 and .61 Level.
But before fibonacci was around, people used dividers (1/2 1/3 1/4) Fibonacci are simple decimal expressions of divisions.
Its just a market rule that corrections happen. So you can apply the fibonacci scale to the actual "Leg" to estimate
where to put limit orders to enter on Retracements or where to put the Stoploss.

I would not use this tool when it wouldn't work in my trading.
When you get the idea, its so "simple" like trendlines.

Nxtblg

legendary

Activity: 924

Merit: 1000

Quote from: reRaise on July 10, 2015, 06:37:26 AM

Quote from: X68N on July 10, 2015, 06:34:33 AM

Actual news, Litecoin rating droped since weak hands cannot carry bagholders and exited at 0.030 Wink

But no need to panic for now.
The rapid rise has called for a correction. from 0.325 to the 61.8 Fibo level is 0.0200 if this level breaks then, well shit Wink

lol fibonacci is so overrated.

Never saw how it tied into people's actions myself. One of the virtues of the "classic" book on technical analysis is that the authors made an attempt to tie the chart patterns to how people actually behaved. (So did the late Harry Browne, by the way.)

Case in point: a "resistance" level is a price where a lot of selling power coalesces - meaning, that a lot of people (or some biggies) have a fondness for selling at that price. Vice-versa for a support level & buying.

One of the charms of technical analysis is the reasoning-in-a-circle aspect of it. I.e., "if enough people believe in Fibonacci levels, then..."

wlefever

legendary

Activity: 1174

Merit: 1001

Quote from: altcoinUK on July 10, 2015, 05:55:18 AM

Quote from: XinXan on July 10, 2015, 04:50:12 AM

Well as of today seems like litecoin is more alive than ever, second on coinmarketcap with a significant lead on ripple, the price got to 8$ and its still growing, i mean the ratio BTC/LTC is higher than it was in 2014. Im not really sure if this will last long since it's sustained by nothing but speculative parties but we will see.

It is a massive Pump and Dump, nothing else. The Litecoin thing has exactly same real value as before, that value is precisely zero. The thing used by no real world applications whatsoever except by day traders in China, and I can assure you (even if you make millions in short term on day trading) that is a not a sustainable business model.

Over $200,000,000 in market cap value is a little more than zero value IMO. To have that cap put on it WITHOUT real world applications says something different to me...imagine its potential WITH applications. It is purely speculation at this point, but to write it off as a Pump and Dump is a little premature.

X68N

hero member

Activity: 672

Merit: 500

Quote from: reRaise on July 10, 2015, 06:37:26 AM

Quote from: X68N on July 10, 2015, 06:34:33 AM

Actual news, Litecoin rating droped since weak hands cannot carry bagholders and exited at 0.030 Wink

But no need to panic for now.
The rapid rise has called for a correction. from 0.325 to the 61.8 Fibo level is 0.0200 if this level breaks then, well shit Wink

lol fibonacci is so overrated.

i thought that too in the first place. But after i checked it and learned to use that tool i found it a good addition.
The funny thing is you can exchange the numbers, since they aren't exact.
I found for myself that 40 and 70 works also. Especially at extensions. 140 and 170 are way more useful than 121 and 161.
Just my experience.

XinXan

hero member

Activity: 1064

Merit: 505

Quote from: altcoinUK on July 10, 2015, 07:07:12 AM

Quote from: XinXan on July 10, 2015, 06:58:00 AM

Quote from: altcoinUK on July 10, 2015, 06:50:29 AM

Quote from: reRaise on July 10, 2015, 06:31:06 AM

Quote from: altcoinUK on July 10, 2015, 05:55:18 AM

Quote from: XinXan on July 10, 2015, 04:50:12 AM

Well as of today seems like litecoin is more alive than ever, second on coinmarketcap with a significant lead on ripple, the price got to 8$ and its still growing, i mean the ratio BTC/LTC is higher than it was in 2014. Im not really sure if this will last long since it's sustained by nothing but speculative parties but we will see.

It is a massive Pump and Dump, nothing else. The Litecoin thing has exactly same real value as before, that value is precisely zero. The thing used by no real world applications whatsoever except by day traders in China, and I can assure you (even if you make millions in short term on day trading) that is a not a sustainable business model.

The only real world Crypto application besides Bitcoin is GetGems. All other alts have failed to deliver an app that is simple to understand, has a use case and enough incentive to people to use.

And this one GadgetNet https://bitcointalksearch.org/topic/ann-gdgc-gadgetcoin-iot-m2m-smart-contracts-on-hardware-854280 , an IoT coin/blockchain with real world use cases like adult and gaming P2P live video streaming. That's what crypto needs, real world use cases.

And of course Bitcoin is used already by real world apps and GetGems is cool too.

Well a lot of altcoins have potential to become useful in the real world but even bitcoins right now are not really that useful, yes you can buy a lot of things but it still needs a lot of work and its price is definitely not determined by that, most of the times.

I am not talking about theoretically what alt can be useful. Theoretically all alts could be useful, theoretically they can be even currency exchange unit in monkey shit trading. Anything. However, currently not even NXT (which has a massive community) is used in real world application. All of them, including Litecoin is just pure day trade speculation commodity.

The very few IoT and technology coins like GadgetCoin is purposefully and by design attached to a real world use case. Instead of trying to find use case to the application, they build the application for a use case.

Bitcoin doesn't have to do that as Bitcoin for the quite right reason is relatively widely used (if the 100,000 active users most of them traders qualifies as wide usage, but comparing to other alts it definitely is).

Well that is exactly my point, that right now the prices go up or down pretty much only because of speculative parties and some other events that may or may not affect the coin directly. That's why is hard to trade in alt coins or even bitcoins because there is no way to know if the price will go up or down, not even long term.

Topic: Litecoin is officially dead - page 101. (Read 290699 times)