Trending towards 50 EMA with bounce back to 200 EMA

See notes on chart.

Kommentar:

Staggered order positioning between $9k and $9.3k will be optimal but it will be important to look at other possible external triggers or an increase in bullishness at $9.5-$9.6k level that could result in "dead cat bounces". Likely dip to $9k-$9.3k will depend on how long the move takes and whether substantial volume increases push the price closer to the $9.5k level. Given the current strong support at 9.5k the move to $9k may not happen at all.

Target exit should depend on order size and entry price and range from $9.5k to $10k. However, should order volume and order book show substantial price velocity and significant imbalance in buying pressure it may be wise to "HODL" for around 90% of the 200 EMA level, which at $13k will be $11700. Optimal exit will be above $11k, but any target above $10k will likely see considerable volatility and a relatively slower duration price movement. It may be wise to buy simultaneously LTC and/or ETH positions for a less volatile ride up with up to 50% ETH and 20% LTC in total position depending on risk tolerance.

Should many market entrants feel comfortable with longer term positions at the $9-9.5k price level we could see sustained momentum above the 200 EMA price level to somewhere between $14k and $15k but the timeline for any move above $14k could be several weeks or even a few months long unless we see some external trigger such as a big news event.

Kommentar:

Note this applies specifically to GDAX trading / chart only. USDT exchanges tend to chart slightly higher so the price levels will be $100-$200 higher.

Kommentar:

GDAX shut down for 3 hours and while they are in post only mode for 10 minutes the market is looking insanely lopsided. If more buyers don't show up this could get interesting.

Kommentar:

What's weird is that LTCUSD doesn't seem to have any shortage of buyers...

Kommentar:

Based on order positioning after GDAX reopened it seems unlikely that prices will fall below $9750 in the very near term (< 6 hrs)

Kommentar:

Well all these dumbasses dumping into a low volume market freaked out all of the buyers lined up at $9800....

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These are the tightest spreads between the top 5 exchanges I've seen in a while.

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I've realized that I am calling the 50 EMA and 200 EMA the opposite of each other above.

Kommentar:

The India news appears to have been a much bigger trigger than I anticipated but the market is recovering now. Perhaps we won't see $11.7k unless volume substantially increases. Probably going to see a few days of inaction as people wait and see just like when South Korea and China issued their misleading news announcements.