three-two-one what’s up everyone dan here a crypt of capital venture April 26 2008 een I hope you having a good day are you having fun are you enjoying litecoin I am I’m looking at the chart this is too fun crypt how do how did this happen what world are we living in I mean it really feels like it happened like this I’m sitting here talking to you on a camera you’re sitting you’re watching we’re commenting back and forth talking about this digital currency cryptocurrency we’re in a new world and it’s fun and like going to cheap and unloving it let’s talk about let’s talk about it a little bit first we can start on the weekly on litecoin just look at that what is happening I’m actually gonna preface this entire video with a very important important point and I tweeted this the other day the only possible thing that would weary me and not even really it wouldn’t worry me the only possible bear bearish scenario would be 110 breaking below 110 dollars for litecoin so if we move down and we break below 110 we’re gonna start we’re gonna start talking about a bearish market if we go to 120 I’m not gonna be talking about a bearish market if we go to 130 not gonna be talking about bearish a bearish move okay I just want to throw that out there because that’s probably the most important thing you know you we go through these videos and we talk about pretty much a couple different things very simple things we talk about support we talk about resistance and we talk about momentum and we also obviously talk about continuation patterns which have proven quite true quite consistent in litecoin we don’t get into Elliot wave theory and all these different things that really if you watch different Elliott Wave videos everybody’s drawing different waves different lines I like sticking to the basics because especially because I’m long and like one I’m not I’m not trying to day trade here so whether I buy at 150 or 120 when I’m doing this and you can see my screen scroll and scrolling right now a month May 2019 it’s not going to matter I can tell you that so let’s jump in to actually talk about those things momentum support continuation patterns because that’s I think in my opinion that’s where that’s where the safety is that’s where the money is to so there’s the weekly and you can see as always we are in that or coming out of that oversold area and one thing I do want to point out is let’s look at back in this this last nice run up that we had this awesome bull run look at the let’s look at the stock our side right down here on my screen and you can just see as we broke out just that upward momentum on that stock RSI began and it was it was a nice smooth motion and you can see over let’s say November 6 to the top you know 12 the week of 12 11 so a little over a month just a nice smooth move up so right now on the stock our side you can see that that move which is where is that on this chart right around here you can see it very reflective here but if you stretch it out it will be more of a consistent longer motion so that’s the weekly let’s go over to the daily and you can see it where we are right now I said the 110 is is that area of support that we need to stay above and I said it basically because that’s our previous basically our previous low it’s this higher low that we had in this continuation pattern so let me kind of expand this chart and you can see so we have this lower low and then we have this we have this higher low so we have this double bottom loan then we have this higher low that we hit 110 being that area of support so if we break that and we kind of form a new low here and we completely break this continuation pattern then we’re going to be talking about a different a different scenario a longer-term bearish scenario and I think at this point a lot of people would probably be kind of get I don’t wanna say getting out of crypto but really losing some hope and I won’t but I just want to let you know if that happened that’s the bearish scenario right there $110 that’s it so if over the next week we’re like down here at 1:30 we’re not in a bear a bear market we weren’t in a bear market here okay so I just want to point that out so now I’m going over the four-hour you can really start getting a taste and a sense of what like where we are what’s going on and you can see it in terms of this continuation pattern we have the top of the triangle which I was a little off the other day as we were kind of running up to and I thought we were going to start seeing resistance right around here and come back down we actually started seeing resistance a little bit after that a little bit above the triangle and then we came back down so now what’s interesting and what makes it fun and enjoyable to watch is the fact that right now we’re at 153 49 we’ve gone up a few bucks in the last couple hours and we’re approaching the top of the triangle again and the top of that triangle right now and I can go over to the hourly you can see it right there I do a nice little triangle or wow I need to go back to first grade that’s a rectangle I drew a little rectangle for that that area of resistance and you can see it really a kanji Dax if you go over there 155 to 160 you see all that right in there so up to 160 you see that area of resistance so I’m not going to sit here and say we’re going to hit that and we’re going to reverse and come back down if I can find my my paintbrush however I would look out for some resistance I really would and so when we get if we get to around 155 into that 160 area look for some resistance if we don’t get a burst in volume if happens tonight look for a bounce back down obviously 150 being a key area of support so this is very short-term I’m just kind of putting this out there for you kind of to what to watch I’m going to do something which is go back to the weekly because in my mind even subconsciously this is what matters for me we’re very zoomed in over here on the hourly it really doesn’t matter as much for me like I right now like coin is cheap around 150 s in my opinion some people might think it’s not going any higher and that’s fine but when we zoom out on the charts this is my mind this is how it works so what would I be looking for on the downside if if we see if we see resistance here I will definitely look for this area right here which is a very strong support is that 140 to 145 area and it’s really exemplified perfectly through if you go to the daily that 200 EMA is right there right around 145 and you can actually even let’s zoom in on the daily and we can see it but you can kind of see that this 200 EMA really starting to act as more of a support for litecoin because you remember we fell through it that wasn’t a very good move thankfully thankfully we saw that support down here at the bottom of the triangle exactly and now we’re kind of we’ve been back up above the 200 EMA and it’s kind of starting to show support right now around 145 so I’d look at 145 as a nice little if you are just kind of like hey is a breakout imminent is it gonna happen soon if you’re very bullish on litecoin I think the 140 145 if we go back down there is a great extremely great strong buying area for more accumulation but again I just end the video with this which is to say 110 down here is is that area of weed want to go below that we don’t want to break this previous low that’s over here and if we say we bounce off resistance tonight just say that’s what we do here as we anticipate everything we balance off and we just kind of bounce around and we come down like if we come down to the bottom of this triangle 120 I am still so bullish on litecoin you can mark my words and that’s I mean this is just another huge accumulation area so I I think we looked at both sides of the scenario right now in my opinion I can see us kind of bouncing around for a little bit of above 140 and below 160 and maybe what I’m what I’m hoping for what I want to see is a slow breakout finally above this triangle that’s what I want to see and it doesn’t have to be an insane crazy move up and we look we can go to the daily we can look because with what we’ve been doing if I can get my you can look at previous breakouts of these triangles it’s not like we have this scenario immediately that comes when nobody’s expecting it but these the breakouts from the top of the triangle are just like a snow a slow nice move in the positive direction we want to break the top of the triangle doesn’t need to be crazy we just don’t want to go below it that’s pretty much in a nutshell what’s going on right now in litecoin let me know your thoughts do you think I’m way off are you buying are you are you sitting on the sidelines I’m curious either way there’s so much going on I I’ll post a link to a video I did earlier Nasdaq it was a Nasdaq video such cool things going on let me know your thoughts below again let me know what you’re doing in these markets I appreciate all of you for watching I really do you make it fun for me thank you so much as always I will see you in the next video and god bless

Leave a Reply

Your email address will not be published. Required fields are marked *