LTC Getting ready for pushing through $80 USD

Readjusting to "History Repeating itself" - Why?

1 - The volume is about 4 times the average (we have fuel!) than during consolidation (200K)
2 - RSI is similar to the previous spike in Sept!
3 - Timeframe similar so target of $82 to be reached by 10/17
4 - BTC has more demand (buy) than supply (sell) as storm is passing: LTC has the reversed - calm before the storm.

It is quite possible to reach near $100 this week if volume increases by 2 fold (around 1.6M) from its current level. Also, LTC is a favorite of China and will lift ban on 10/19 so we may have a double burst and could hit $160...

I am expecting a pull back between 10/17 and 10/19 before the second burst (whales will make room for new entries from China...) so I am positioning 50% of my holdings on this dip selling @ $100 and buy @ $75. If you go long, I recommend to buy now and to hold until the peak of 10/19 then sell all to buy again around the $65-70 support.

I will clean up my TA this week as we get closer to this reality.

PS - I am realizing that long term projections are difficult with crypto because of so many untraditional variables & news, so I think we should have a flexible plan in the short time to be revamped every 8 to 12 hours.

Lastly, LTC behavior is distancing itself from BTC: our little baby has grown up to be its own master!

Cheers

Comment:

the date of the second burst may be sooner than 10/19 - but 10/18. Cheers

Comment:

Scratch LTC being its own master. It looks like at a given volume, all main cryptos (BTC, ETH, LTC) behave the same. Right now they are acting like triplets.

Comment:

Well - many confusing news (and speakers) today. 1 hr on LTC showing sideways with RSI at 50, MACD is flat, volume is only 2x the past trend (400K). We are stuck around 65 until new markets play in (Asian, Europe) - this US market is FUD!

Cancelled all my sell orders and will hold until we push through 70. If volume reaches 1M then will sell 50% at $75 and wait for a rebound to $65 then buy. After will wait for the next target at $82.

Play safe!

Comment:

Bought at $63.5 on the pull back. Reaching for 72-78 now.

Trade closed: target reached:

bought at $59.75. Holding to sell at $72