WE ALREADY DID BITCOIN, NOW FOR A LOOK AT THE LITECOIN BOUNCE ZONE
*Coin Telegraph
GOOD EVENING STEEMIT!
So it's Sunday night and I'm just settled in front of the TV watching some Davis Cup tennis as I do some weekend charting.
God I wish I was totally free from weekday responsibility and I could turn into a nocturnal sports fan, but unfortunately that is not (yet) the case. Just a quick blog tonight before I hit the hay.
CHARLIE LEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!
Have you guys seen that BiteSizeBitcoin YouTube bloke?
Get's me every time when we yells out CHARLIE LEEE and I can't think or speak of Litecoin anymore without hearing that name screamed in the back of my head. It's worth a look if you haven't, his analysis is great and the videos are always fun... even if they are a little bit on the long side, you should make the time and effort.
Anyway, eyes on the prize and back onto looking at where the Chiese/JPM FUD drop bottomed out. The other day I took a look at where Bitcoin turned and today I want to shift focus to Litecoin.
Fuck Bitcoin, I'm all about that Litecoin! Let's take a look at the chart:
LTC/USD Daily
But seriously, check out that level!
That juicy, juicy zone where price bounced out of. In the midst of absolute fear and panic selling, price actually wasn't that panicked and irrational after all.
Who would have thunked it?! :)
Well if you bought the mother fucking dip, then congratulations because you're sitting pretty right now. If you haven't then let's just wait and see how this trend line retest plays out.
It's the same concept that I was speaking about in my previous post where altcoins are obviously waiting to see if Bitcoin can get back above previous support that is now capping price as resistance. If it can, then Litecoin is going to rip back through that trend line and reactivate it as support.
For me, this is the key piece of price action I'm looking for.
Enjoy what's left of your weekend or I'll see you up bright and early on Twitter tomorrow morning.
Peace.
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Beautifully written. I got interested in cryptocurrency two months ago. I was sitting on a plane headed for Europe from Oz. Captive audience - started reading about Bitcoin in the inflight reading material. I was hooked. I checked the price. It was US $1895 - right on the dip, I tried to buy in, but got snagged by the hyper-obstacles placed by bureaucratic restraint - of trying to use an Oz credit card in Tir na Nog with a Euro Passport.......still managed to get in before the heights - and out. Decided Bitcoin was puffed-up bubble-coin. Bought lots, read lots. Then sold out of all - at a profit. Bought back in to astutely weighted favourites - Litecoin, Neo - form 90% of my portfolio. The other 10% are plays. I do not hold Bitcoin or Ether, which isn't to say they won't go up. I just believe that other coins will surpass their rate of inflation and eventual status. So I read your analysis, above, with the pleasure of having my opinion corroborated by someone with a far more expert opinion than mine. I am following you, and I resteemed you, out of respect for your opinion and also to spread the word. Neo to the moon, because I love the concept, application and potential - and Litecoin, also, because Charlie Lee has identified the obstacles inherent in Bitcoin and addressed and resolved them in the design of Litecoin. When the smoke and mirrors clear, truths will be revealed.
Thanks for taking the time to reply with your story :) Appreciated!
I hold BTC and ETH alongside my portfolio of alts simply for diversification and risk management reasons. Because Bitcoin has the name, it is used as a store of value as well as an investment in it as a cryptocurrency. When money flows out of alts, it tends to go into Bitcoin and vica versa.
While the technology will be surpassed by other coins, don't discount Bitcoin. It's the one people know, and will always be the entry point for new money coming into the crypto space.
Thank you, @forexbrokr - appreciate your comments, always, and thank you for replying. I take note of your comments. Agree about BTC and Ether, too, as coins to use as an entry point to other cryptocurrency. There is a smart exchange - coinspot - operating in Australia, that allows purchase of multiple coins using fiat. It is expensive because it hedges the currency exchange rate and this is reflected in the fees charged, but ultra convenient - and I rarely use BTC/Ether for purchasing. Lazy - but reflects real world practice for novices.
To the MOON!!!!
CHARLIE LEEEEEEEEEE!
1 own 1 Litecoin. HODL.
ACCUMULATL.
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STOPlitecoin is a good alternative to Bitcoin so a great future. Because first they are maintaining full compatibility with the Bitcoin API and second it is very easy to integrate it into existing applications that already offer Bitcoin support.
Excellent points mate. They can both definitely coexist too :)
I think LTC has greater potential for profits, I especially agree with what was written here https://steemit.com/litecoin/@drewkin/ltc-vs-eth-technical-analysis-19th-september-2017 about LTC having better returns than ETH.
Thanks drewkin. I agree with you when it comes down to LTC v ETH short term. But longer term, they can both survive and thrive alongside each other as they do completely different things.
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1 minute after my post, you comment the exact same spam that you hit me with last time.
Jog on.
stupid bots