Time to convert Litecoin back to Bitcoin - page 2.

spud21

sr. member

Activity: 342

Merit: 250

Quote from: afbitcoins on July 10, 2015, 05:08:56 AM

In cold light of next day I don't know if now is good time to sell. Maybe I should buy? Lol. I don't know basically.

Could Litecoin get above the channel mentioned in my OP then find support above that for a second leg up ? When is the halving anyway?

edit: Just after I wrote that look at the chart and see 20% drop!

It's -45.94% now on finex. Thanks for the good call to dump. I was considering buying with my Bitcoin but decided it was too risky after looking at your charts. Losing half my money in the space of half an hour would have been a nightmare. Those who bought at the bottom made good, but those who bought at the top took a big haircut.

afbitcoins

legendary

Activity: 2101

Merit: 1061

Well Litecoin pierced the top of my channel now falling quite steep.

Did you take profits ?

Anyway I don't know if this means bull run is over, but it 'might', doesn't look good at the moment.

afbitcoins

legendary

Activity: 2101

Merit: 1061

In cold light of next day I don't know if now is good time to sell. Maybe I should buy? Lol. I don't know basically.

Could Litecoin get above the channel mentioned in my OP then find support above that for a second leg up ? When is the halving anyway?

edit: Just after I wrote that look at the chart and see 20% drop!

Herbert2020

legendary

Activity: 1946

Merit: 1137

i didn't even expect that litecoin could go up this way and this fast. but i am happy that i have bought some when it was low price.
but i think especially now that bitcoin is having spikes in price ($288 now) a lot of the investors in litecoin is going to come back to bitcoin. but it looks like litecoin has still some potential to go up too.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Zangelbert Bingledack on July 09, 2015, 07:04:22 PM

Quote from: El Dude on July 09, 2015, 06:23:34 PM

The halving hasn't even come and ur selling lol.

People have learned from the late-2012 Bitcoin halving and subsequent 100x rally in 2013 that halvings make the price go up. So now the price goes up before the halving, rather than after. In other words, it is priced in.

that's an assumption, that may be wrong, first because past history isn't always indicative of the future, second because litecoin isn't bitcoin, litecoin isn't stopping here anytime soon, 0.06(previosu ath) is surely possible

it's true that people will not start to dump 1 day after the halving, there isn't this kind of logic behind trading, but we are still to far away from that point to even think that the hype for the halving is dead already...

bassclef

hero member

Activity: 924

Merit: 1000

Quote from: bassclef on July 09, 2015, 09:25:11 PM

Agreed, LTC entering first stages of distribution. Build short positions on the rallies, which will have declining peaks.

Nevermind. The bull is still with this coin.

bassclef

hero member

Activity: 924

Merit: 1000

Agreed, LTC entering first stages of distribution. Build short positions on the rallies, which will have declining peaks.

spiderbrain

legendary

Activity: 889

Merit: 1013

Call me a retard but I've got a sell order at 0.09 =)

Zangelbert Bingledack

legendary

Activity: 1036

Merit: 1000

Buy the anticipation, sell the fact.

wlefever

legendary

Activity: 1174

Merit: 1001

Gotta admit, i've got some i'm thinking of cashing in on. With just over a month left before halving i think its peak may be a little higher, but that fall at or before halving is gonna hurt! Remains to be seen though.

Zangelbert Bingledack

legendary

Activity: 1036

Merit: 1000

The altcoins are so transparently narrative-driven. I looked at the blocksize debate and stress tests a while ago and concluded the next narrative would be "big blocks" or scalability, so LTC would rise. I saw LTC rise, then I thought, "Oh yes, but then the other old-skool altcoins that always rise with LTC will rise: PPC and NMC."

I saw them rise, and now I think, "Oh but they left out DOGE, which is new enough to be left out of the old skool but does have very high transaction volume, so it will eventually have a pump, too." So DOGE is probably next, though it's confounded because it's part of the "community" narrative. However that narrative is so old that people forgot about it by now (AuroraCoin and Mazacoin, anyone?), so that'll probably just delay its bump. After that it will probably be Monero (and maybe DASH) because the old "anonymity" narrative will have faded away enough because of all the recent blocksize drama, allowing them to get in on what will have by then turned into the "time for the solid alts to rally" narrative (even though Monero is probably a lot less scalable than BTC, it won't matter by then because of the new-new narrative).

This is all invalidated temporarily if Bitcoin takes up the torch for the rally, as I expect it to.

PolarPoint

hero member

Activity: 672

Merit: 500

Quote from: Zangelbert Bingledack on July 09, 2015, 07:04:22 PM

Quote from: El Dude on July 09, 2015, 06:23:34 PM

The halving hasn't even come and ur selling lol.

People have learned from the late-2012 Bitcoin halving and subsequent 100x rally in 2013 that halvings make the price go up. So now the price goes up before the halving, rather than after. In other words, it is priced in.

I fear for Litecoin after halving. Litecoin acceptance is low and not pulling in investors. Litecoin's price is up because Litecoin daily supply will be halved and it is going to cost more to mine the same Litecoin. There is nothing more! No encourage news and no new developements. After this pumping ends, a dump will start and how low will Litecoin go this time, will it ever recover?

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Kudos to anyone who made out like a bandit with LTC. It's nice to see some pumping action 2013 style even if it was with an alt. Perhaps it was all done to bring back an echo of the good old days.

ssmc2

legendary

Activity: 2002

Merit: 1040

Quote from: El Dude on July 09, 2015, 06:23:34 PM

The halving hasn't even come and ur selling lol.

Hold bags much?

Zangelbert Bingledack

legendary

Activity: 1036

Merit: 1000

Quote from: El Dude on July 09, 2015, 06:23:34 PM

The halving hasn't even come and ur selling lol.

People have learned from the late-2012 Bitcoin halving and subsequent 100x rally in 2013 that halvings make the price go up. So now the price goes up before the halving, rather than after. In other words, it is priced in.

waterpile

hero member

Activity: 602

Merit: 500

Quote from: afbitcoins on July 09, 2015, 05:24:02 PM

As we all know many of us are holding Litecoin wondering how high this spike will go. Moon ?

yup, the sudden spike may also have a flash dump its better to get a quick profit than none Cheesy

Quote from: El Dude on July 09, 2015, 06:23:34 PM

The halving hasn't even come and ur selling lol.

people don't have the same target profit.

El Dude

hero member

Activity: 770

Merit: 500

The halving hasn't even come and ur selling lol.

hZti

hero member

Activity: 1050

Merit: 642

Magic

A: The Chart analysis from this thread isn't really what you can call good

B: Is this the real Fontas? Thought he was gone forever Cheesy

necrita

newbie

Activity: 49

Merit: 0

Fontas would like to have a word with you.
https://www.tradingview.com/chart/LTCBTC/Cy0Fv2bx-The-Triple-Tit/

afbitcoins

legendary

Activity: 2101

Merit: 1061

As we all know many of us are holding Litecoin wondering how high this spike will go. Moon ?

I don't hold any Litecoin myself so I mention this only out of passing interest but about now might be a good time to start thinking about taking profits.

I'm not saying Litecoin can't or won't go significantly higher but for me we are in a danger zone. Reason being this log chart.

The flatish, slightly bearish channel I've added in looks like it might be valid, note price is rapidly closing in on top of that channel, might shoot past some way, but eventually price will crash. Don't be the bagholder.

Disclaimer: I offer this only as opinion I won't take blame it it doesn't work out. (But might take some credit if it does though Cool

)

Topic: Time to convert Litecoin back to Bitcoin - page 2. (Read 3073 times)