I see a parabolic move coming in Litecoin. Buy the 618 or be quick about it - whatever makes sense for your risk tolerance.
It's a $6 billion market cap - it may not be too difficult to move this one much higher. It's the cheapest coin on Coinbase (a crypto broker that is dominating the crypto market), so people with less $$ will want to buy the cheapest coin. This is a game of psychology. Whether the logic makes sense or not, the chart certainly says stay long or go long.
Exit strategy since we are approaching "no mans" land:
Attach code below in your pine editor. Put the time scale on Weekly. I am holding as long as the candle remains green and the structure stays intact.
//Modified Heikinashi with EMA Filter...
//Choice To Plot EMA Trend Is Based Off Of
study(title = "CM_Modified_Heik_Trend_Bars", shorttitle="CM_TrendBars",overlay=true)
note = input(false, title="Lower Numbers = More Sensitive to Price Change...Higher Numbers = Less Sensitive")
uema = input(34, minval=1, maxval=50, title="EMA UpTrend")
dema = input(34, minval=1, maxval=50, title="EMA DownTrend")
shema = input(false, title="Show EMA Trend is Based On?")
haclose = (open + high + low + close)/4
haopen = na(haopen) ? (open + close)/2 : (haopen + haclose) / 2
upEma = ema(haclose, uema)
downEma = ema(haopen, dema)
emaAvg = (upEma + downEma)/2
heikUpColor() => hlc3 >= emaAvg
heikDownColor() => hlc3 < emaAvg
col = hlc3 >= emaAvg ? lime : hlc3 < emaAvg ? red : white
barcolor(heikUpColor() ? lime: heikDownColor() ? red : na)
plot(shema and emaAvg ? emaAvg : na, title="EMA UpTrend", style=line, linewidth=3, color=col)
---------------------------------------------------
Previous Litecoin analysis:
It's a $6 billion market cap - it may not be too difficult to move this one much higher. It's the cheapest coin on Coinbase (a crypto broker that is dominating the crypto market), so people with less $$ will want to buy the cheapest coin. This is a game of psychology. Whether the logic makes sense or not, the chart certainly says stay long or go long.
Exit strategy since we are approaching "no mans" land:
Attach code below in your pine editor. Put the time scale on Weekly. I am holding as long as the candle remains green and the structure stays intact.
//Modified Heikinashi with EMA Filter...
//Choice To Plot EMA Trend Is Based Off Of
study(title = "CM_Modified_Heik_Trend_Bars", shorttitle="CM_TrendBars",overlay=true)
note = input(false, title="Lower Numbers = More Sensitive to Price Change...Higher Numbers = Less Sensitive")
uema = input(34, minval=1, maxval=50, title="EMA UpTrend")
dema = input(34, minval=1, maxval=50, title="EMA DownTrend")
shema = input(false, title="Show EMA Trend is Based On?")
haclose = (open + high + low + close)/4
haopen = na(haopen) ? (open + close)/2 : (haopen + haclose) / 2
upEma = ema(haclose, uema)
downEma = ema(haopen, dema)
emaAvg = (upEma + downEma)/2
heikUpColor() => hlc3 >= emaAvg
heikDownColor() => hlc3 < emaAvg
col = hlc3 >= emaAvg ? lime : hlc3 < emaAvg ? red : white
barcolor(heikUpColor() ? lime: heikDownColor() ? red : na)
plot(shema and emaAvg ? emaAvg : na, title="EMA UpTrend", style=line, linewidth=3, color=col)
---------------------------------------------------
Previous Litecoin analysis:
The exit is always the challenge... Still holding long.