Litecoin - one more major downturn this year for BITFINEX:LTCUSD by UncannyDeduction

Litecoin - one more major downturn this year

Whatever you do don't take my advice, I'm a rookie trader...
There is some turbulence incoming, fasten your seat belts.
I'm expecting another major downturn before new year.

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Before doing this I zoomed out alot and tried to find an established bullish mega long term attraction point. When I couldn't find a well defined one I got the idea that even more bearish action is needed. When It rises from the ashes the next time maybe a clearer bullish mega long term trend can be found. As you can see at least it got one well established bullish fractal attraction point. But I think more is needed, a mega long term one.

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For starters let's say there's a buy at $36.5

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I expect a bearish action around 6:th November (Fibonacci rings cross).
If it goes up the next few days it's totally okay, I'm still expecting a bearish future in a week or two.

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Zoomed in went down a bit. I still think it's too early to go down.

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Sorry about the confusion! But I just saw that it probably will go up to $65 level before going down. The downturn is postponed even later, so November 6:th is not valid anymore.

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Going up now as I was thinking:

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Red line should be a brisk wall but who knows. Maybe I'm wrong and it pushes through. I'm no to this so being wrong is perfectly natural. I'm just trying to understand and predict fate, I don't actually know for sure...

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Fixed grammar:
Red line should be a brick wall but who knows. Maybe I'm wrong and it pushes through. I'm new to this so being wrong is perfectly natural. I'm just trying to understand and predict fate, I don't actually know for sure.

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Spasms close to the brick wall.

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It went outside of the "brick wall"! Either I was completely wrong and it skyrockets. The other possibility that I think is more likely, is that it will be a false bull and when returning down it will be even more bloody. I don't see any obvious new fractional attraction point that would push the price up - that's why I'm still pessimistic.

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Notice that it crossed where two Fib. rings intersect. This happens time and again.

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Maybe my sweet brick wall is holding after all. Some of the bricks lost their glue, but the wall still seems solid.

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I don't think the bottom of this Fib. circle set will hold as resistance. It'll probably blast through. Notice the intersecting Fib. circle set once again. This is a weak spot!

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A wild guess about the future!
This is not clear yet...
Take this with a grain of salt...

Maybe (very much maybe) heading for $40

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I'm less sure about the "solid wall" don't trust it to be solid.

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Breaking out again of the "solid wall". Let's see what happens...

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The wall is broken. It can still re-enter. Found another bearish point that it could fall to $27.77 at November 23:d.

I found this "November 23" point after finally finding the long term bullish attraction point and giant Fibonacci (not shown below). I will present it later when it is a buying opportunity.

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Price is going up. I still think we'll have a great crash this year.

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Touching a new resistance (red line) from the giant Fibonacci...
Let's see how it reacts...

Big chart:

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Reacting to the resistance...

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Looks dangerous. Staying out.

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I just bought at 79.5 and have a stop at a comfortable level.

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Oh... I see... John McAfee just endorsed Litecoin... Fascinating. That happens to almost perfectly match with when I decided to buy LTC.

twitter.com/officialmcafee/status/934410235070083073

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This is silly. I'm waiting for the crash and here I am buying this mudskipper.

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I think LTC can go to $150 short term.

Please excuse my double signals. I see both the optimism and pessimism at the same time. The pessimism is more obvious to me but right now LTC is looking strong. I bought when it crossed a key level (a fat black line). Once again sorry about my double signals, there is more to come. I am sure I'll buy some of the coins I at the same time say is going to crash... FYI this potentially unpleasant experience will happen again and again and again.

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I'm sure some of you don't like me... Maybe even start to feel some really strong negative feelings about me, I actually empathize with this. I will therefore inform you that this will continue and happen again and again (that I give double signals). If you feel like this you should probably unsubscribe because such feelings isn't healthy to go carrying around. I'm probably not going to change.

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In 4 hours and 20 min LTC will have choosen a direction. Either a continuation up or it descends. If you want to buy you should probably wait 4-5 hours and wait for the trend to appear.

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Redid it. I'm raising a user bias warning here... 3 hours more wait time.

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1 h 55 min left.

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$240, December 1:

UncannyDeduction

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