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Scaling

Hodl those Litecoin's, impulse wave is forming again!Fork's here and forks there, fork those forks. Litecoin aint forking and the "Bitcoin's Silver" concept is truer than ever. Fundamentals With Bitcoin getting all the attention on new ATH's being hyped all over, it's easy to forget about it's little bro, Litecoin. If you delve into the fundamentals though, there is big reason to be excited about Litecoin. In fact, Litecoin is a much smarter investment than Bitcoin at this moment. When it comes to Bitcoin the big dilemma is scaling. We have the big blockers and we have the lightning project. The market obviously favors the latter as BTC is valued at much greater numbers than BCH. There is other factors within that equation, but still, I see the lightning way as the winning way. Now what does that have to do with Litecoin? Litecoin is Bitcoin's litte bro, it's silver to gold. It has a been incredibly important to the Segwit and lightning project. And when it comes to Atomic Swaps, BTCtoLTC is the example. The magnitude of Litecoins role in the Core saga is uncertain though, but that's a story for another time and I don't count that as important for the next 2-4 months. What this really comes down to is that when the Bitcoin Core way of scaling is favoured by the market, it's a good fundamental for it's always helpful little bro. Should circumstances on this change, and they could do so rapidly, it would be very bad for Bitcoin and not so bad for litecoin (perhaps it would even be a positive). That's why I am calling Litecoin a smarter investment than Bitcoin at this moment. The reward is bigger, and the risks are less. I do have problems with Litecoin though, to make that clear, as I am sure many others have aswell. There is not much being done with it, no one is trying to penetrate the market with it as Dash for example. It's just there, as a test rabbit for Bitcoin. But overall I like the fundamentals for Litecoin in the short to medium term. ALSO! Remember that Litecoin is on Coinbase. You know, that exchange that keeps getting massive amount of new signups and a huge percentage of the new stupid money that enters the space. Technical About a year ago I posted a trade idea on Litecoin " Let's Segwit this Coinbase addition! ". Bought at 11.70 USD. Sold at 90 USD. Now that's an incredible return! :) If we go back on the chart I can see that we completed an impulse wave to get to that 95 USD top. We then had the correction wave and sideways action. Now it looks like we have started another impulse wave and is right in the middle of wave 3! I think the third wave will be a strong one. I think the crypto market as a whole will see lots of green leading up to CME futures launch, with a big drop a couple days before. For Litecoin that lines up perfectly with my FIB points at 128 USD. However, there is a good amount of resistance at 105 USD so the third wave might stop there and we would need to complete the fourth wave to advance. In the event that Litecoin completes third wave at 105 USD I will hold my position until wave 5 target of 149. As fifth waves tend to be as strong or even stronger then third waves in crypto. However, if third wave goes as strong as I hope and predict I will get out on that wave (125 USD). With that return I probably wont enter the market again for a try at the fifth wave as I don't like that risk/reward ratio. Numbers Buy - 86 USD Sell - 125 USD Stop Loss - Break of Pitchfork support.
BITFINEX:LTCUSDLong
by Kryptokelly
18
How to properly scale your chartsMany charting tools require a proper scaling of price / time. This is the method I'm using to scale my charts if needed. 1) Draw a rectangle somewhere on your chart 2) Set it's coordinates to 1:1 So if the price coordinates are 300/350 , set the bar (time) coordinates to have the same difference of 50 in this case 3) Draw a "Fib Speed Resistance Arc". You can find it in the second tool bar menu where you also find the Fib Retracement 4) Set it's PRICE coordinates to the same you have set for the rectangle. For both BAR coordinates you use the smaller number from the rectangle bar coordinates. Now after you have done that drag one axis (price or time) and move it around. Watch the upper right corner of the rectangle cross with the fib arcs. If it crosses with the 1 fib arc, you have a 1:1 scaling. On the chart example you can see it cross the 3 fib arc so the scaling is 3:1 If you found a nice scaling, right-click the price axis and select "Lock Scale" so you can zoom in and out of the chart without changing the scaling. You can try the following scaling ratios: 0.5 / 1 / 1.272 / 1.414 / 1 / 2 / 3 / 4 / ... also all the X.618 ratios could be usefull. (0.618 / 1.618 / 2.618 / 3.618 / ... ) Let me know how this works out for you and feel free to leave a comment if something is unclear. Cheerz : ]
BITSTAMP:BTCUSDEducation
by MagnusTradingGroup
12