The Litepresence Report on Cryptocurrency

[muh_roads]

Lots of excitement in the last couple of weeks. I'd like everyones thoughts. Feels like everyone is long, which seems concerning.

Pres. Are you literally just following your bot?

To everyone, who is all in BTC? Who is in 50%?

Okay so if this thing is taking off, what is the next pullback recommendation for people who are buying? 4H MACD looks like it wants to div so FOMO'ing in at this moment seems silly.

There is clearly price action. There is excitement here.

Paul, you seem concerned about volume. Does that apply to BTC or just LTC?

Amonsaro, what is your take?

Thanks guys.

[Dianne]

Anyone going to sell btc at 291 and try to repurchase lower?

[muh_roads]

Yeah, turned 500 BTC into 609 BTC when I sold at .01940 or so, having held LTC for a couple weeks. Back in at .02700. (Another way of looking at it is I turned 31,000 LTC into 22,000 LTC by selling low and buying higher...)

So I'm dying to ask, did you exit?

I went in 026 and sold at 03. But then I stupidly bought in again after settlement not expecting the timed OKC ddos / ltc dump. I caught the top of the 1st giant green candle exiting the 15m. Scary $#@!...lol

Those funds definitely want vengeance on LTC in the future. Setting that portion aside.

[amonasro]

Yeesh, flew a little too close to the sun last night with LTC. I left the computer to grab a snack, didn't set a stop, came back and that red dildo wrecking ball was already in action. Fortunately I had a BTC long to even it out. All in all pulled a profit, but it could have been much, much better. Sigh.

The thing is, my original plan with LTC was to short the top, and I even called it (about a dollar too soon), then I traded against my own advice. This is what happens when greed kicks in.

I'm officially banning myself from reddit, tradingview chat and any other source that will affect my ability to read the charts. (edit: not you guys!) I need to learn how to temper my enthusiasm during a rally. Maybe turn all of my charts upside down

[presence]

[muh_roads]

Getting close already...

Got an idea on a bounce like for BTC if the 1H prints a lower willy?

[presence]

Pres. Are you literally just following your bot?


I've been trading LTC NMC and PPC to BTC while my bot holds BTC.

Else when bot is in fiat I'm fiat.


Right now bot is in BTC.

I might trade the btcusd topside manually for a hat trick.



Here's the forecast:

[amonasro]

Amonsaro, what is your take?

A lot of traders took a hit last night, so they are being cautious. This is probably the reason for the low volume. BTC larger timeframes look great with a big daily candle and expanding volume. It looks good to me.

I think this rally is different than the last time we went to $300. There's a lot less selling and better ease of movement up. Wyckoff noted in his writings that this rally, late in the trading range when all available stock is held primarily by strong hands, was different than others before it. He called it a sign of strength/jump across the creek where the smart money have all taken position and now use their resources to push the market up, shooting us out of the trading range. There is great ease of movement because the selling is gone. This only happens at the end of accumulation when the market is ready. The market seems ready.

I think the LTC pumper has switched to BTC--I recognize the action of his bot and the orderbooks are paper thin. It's going to be a crazy few days if the market breaks $300 decisively.

[presence]

100% LTC


sold 0282
bought 0142

[kfarnan]

100% LTC


sold 0282
bought 0142

Is it safe yet? Is algo catching these swings?

[PaulConventionWV]

Lots of excitement in the last couple of weeks. I'd like everyones thoughts. Feels like everyone is long, which seems concerning.

Pres. Are you literally just following your bot?

To everyone, who is all in BTC? Who is in 50%?

Okay so if this thing is taking off, what is the next pullback recommendation for people who are buying? 4H MACD looks like it wants to div so FOMO'ing in at this moment seems silly.

There is clearly price action. There is excitement here.

Paul, you seem concerned about volume. Does that apply to BTC or just LTC?

Amonsaro, what is your take?

Thanks guys.

Are you kidding? Who isn't concerned about volume? The basics of the volume/price relationship are important no matter what you're trading.

Oh, btw, made 62% on that LTC trade. Not sure why the price action between BTC and LTC are so different, but I'm still a bit skeptical of BTC's rise. If we're going to break $300, then we should see fast gains and a top at least in the upper 300s.

Too pumped about making 62% to be too concerned at this point. I might trade BTC if the right setup presents itself.

[amonasro]

Is it safe yet?

LTC is at the 61.8% fib retracement... a good bet for the bottom. I'm waiting until a secondary test of the lows on low volume before getting in.

[PaulConventionWV]

Yeesh, flew a little too close to the sun last night with LTC. I left the computer to grab a snack, didn't set a stop, came back and that red dildo wrecking ball was already in action. Fortunately I had a BTC long to even it out. All in all pulled a profit, but it could have been much, much better. Sigh.

The thing is, my original plan with LTC was to short the top, and I even called it (about a dollar too soon), then I traded against my own advice. This is what happens when greed kicks in.

I'm officially banning myself from reddit, tradingview chat and any other source that will affect my ability to read the charts. (edit: not you guys!) I need to learn how to temper my enthusiasm during a rally. Maybe turn all of my charts upside down

Wow, that sucks. There was a major obvious bear flag on the second LTC dumpage, which took us from $5 to $3.7x. My target was hit at $4.5 while I was asleep and woke up to 62% gains.

[amonasro]

Wow, that sucks. There was a major obvious bear flag on the second LTC dumpage, which took us from $5 to $3.7x. My target was hit at $4.5 while I was asleep and woke up to 62% gains.

Yeah had I stuck to my original plan... what got me was the initial dump from $8.x. Thing was HUGE. Sent Bitfinex's trading engine into a spiral. At least I made it out alive, and in profit.

[PaulConventionWV]

Yeah had I stuck to my original plan... what got me was the initial dump from $8.x. Thing was HUGE. Sent Bitfinex's trading engine into a spiral. At least I made it out alive, and in profit.

Nice work. You seem to catch a lot of moves I wish I had caught. I gotta admit I was really nervous about this one because I had to work for 8 hours when I wanted to start shorting and the liquidation price was $11.7, which didn't seem like a completely ridiculous target at the time since there was so much euphoria, but at the same time, I was almost certain it wasn't going to happen because there just wasn't enough time and the market was starting to work a little too hard and getting really heavy. It's just that nagging feeling that you could be wrong because I literally had my entire trading portfolio on the line. Risky, sure, but the odds were in my favor.

[PaulConventionWV]

Long on LTC again (this time with far less risk).

[presence]

[amonasro]

Agreed Pres, watching closely for an entry point. The last woosh down to $3.6 may have been the shakeout/spring. May have to test the area again as there's still a few weak hands on BTCe (volume was slightly higher there).

[presence]

Long on LTC again (this time with far less risk).

just hold it

I'm all in on 0142

moonage

[PaulConventionWV]

just hold it

I'm all in on 0142

moonage

Are you expecting new highs?

Also, how about dat bitcoin? Looks like we're getting ready to crack $300, which is a major level and may start a new bull market.

[amonasro]

I'm wondering if the CO is going to buy the LTC bottom just as BTC is cracking $300, igniting a huge rally in both coins. That's what I'd do.

[presence]

[Dianne]

It's at .0127 now... Good time to buy?

[amonasro]

It's at .0127 now... Good time to buy?

Yes and no. This could be the bottom, the signs are there. If you want to be more conservative wait until it's totally bottomed out on no volume, or rallies back up a bit (edit: then you'd get in on the first pullback).

[PaulConventionWV]

Yes and no. This could be the bottom, the signs are there. If you want to be more conservative wait until it's totally bottomed out on no volume, or rallies back up a bit (edit: then you'd get in on the first pullback).

In a word, probably.

[presence]

we are sitting on the ass bottom of the most nasty 3d candle in the history of LTCBTC. Without a doubt it is a good time to buy and panick hodl.

[presence]

[presence]

recent trades have been

May 1
Buy BTC $235

ltc
B00758 S00845

ppc
1% loss, don't recall numbers

ltc
B00970 S01960
B0230 S0282

ppc
B00240 S00280

ltc
B0142....

All in all good month

[amonasro]

Good ease of movement on the last little LTC rally on low volume after the shakeout, an indication that selling is exhausted. Getting in on this pullback...

[presence]