Bitcoin litecoin cryptocurrencies
selling off the last couple weeks what is going on
gonna talk about it in this video so stay tuned what’s going on guys so I
want to make this video everyone’s been asking me everyone’s been tweeting me
and sending me messages and direct messages and all that stuff I just want
to make this video to get it out there and explain what I’m doing right now
what my plan is for litecoin what my plan is for the overall cryptocurrency
play right now and obviously I’m no expert by any means but this is what I’m
doing this is what I see in terms of reading the chart and what’s going on
with the overall cryptocurrency world right now we’re selling off there’s
nothing else I can say other than we are selling off we’ve had some bad news you
know Charlie Lee sold his light coin we had the Bitcoin cash drama a lot of
things going on it’s Christmas and we got New Year’s coming up and you know it
really just seems like the overall market just isn’t there you know the
volume hasn’t been there that people aren’t buying the dips we’re just
trending lower you know I’ll pretty much just bouncing bouncing bouncing lower
not in a panic way not like oh this is the end of the world kind of thing but
we’re just training lower because people are just not there the buyers aren’t
there people it’s hard to really say the exact reason but people aren’t buying
right now obviously it’s the big whales it’s the guys a lot of money who moved
the market so we need those guys to come back I think we’re gonna come back in
January right now a lot of those whales a lot of those companies are just done
for the year you got the Asians who are also done get a lot of the Asian markets
a lot of the Asian traders aren’t there that are trading these markets so right
now we’re just consolidating lower we’re heading lower right now is it a time to
buy I think it is a time to buy I think overall we’re had a good area to buy now
you can see this is the daily chart so we had that high back down the 19th at
380 and we had this kind of just massive sell-off this was the whole Bitcoin cash
coinbase drama that happened you can see we just crashed and we’re just kind of
trending lower we’re just trending lower we had this nice dip all the way down
here the 140 area it got bought up and sent right back up there to 320 which is
a really nice little bounce there but in the last couple days and the last week
so we just haven’t had that balance we haven’t had the power I thought we were
really gonna break out here over the 280 area but we didn’t have the volume we
didn’t have the action so we got stuck there at the 280 here you can see this
trend really if you just look at this trend here from that 380 area we’re just
treading lower we’re just falling that trend now we had this little spike up
there was a 320 area I told people to watch out 320 area key area to watch
with is 330 resistance there so that was the issue that we had we had this you
know overall this trend we needed to really break out at 320 area to get
moving back higher in the volume this isn’t there so going into Christmas it
wasn’t good timing it’s the end of the year people were just they’re not about
it right now they’re just they’re not trading and you can see even in the
overall stock market kind of the same set up but right now we’re trending
lower and I think it’s a good time to buy when I say it’s a good time to buy
it doesn’t mean that we’re at a bottom by any means it does not mean that we’re
have found a bottom 100 percent that we’re gonna keep heading higher from
this point but I do think it’s a good time to be watching to be looking for
opportunities to be buying a little bit a little bit a little bit on these dips
and that’s kind of my goal right now I actually just bought some they’re the
226 area you can see we dip down here to the 223 RA today so I’ve got some orders
out there 226 area I bought some I’m gonna buy some more the 216 area if we
get down there and I’m gonna buy a bunch more if we break below $200 so anything
under $2 I think is a amazing buy at this point so I’m gonna be buying as
much as I can below $200 I think the end of next year the end of 2018 this could
easily be above $1000 and that’s not to say we won’t have some nice runs up and
down along the way but I do see litecoin heading higher Charlie Lee talked about
some big news coming the litecoin foundation’s been talking about some big
news there’s a lot of rumors circulating there’s a lot of things going on
I don’t think cryptocurrency is done by any means you know going into the end of
the year here it’s just part of it end of the year sell-off we’re pulling back
nothing to be scared of if you’re long if you’re holding you can hold if you
want to try to sell right now and try to buy it’ll tip lower you can do that as
well but right now this 200 our area closely you can see previously we dip
down there $200 we get all the way to 140 but really that 200 or
bounces pretty hard back up there to 320 and I don’t think we’re gonna get that
big of a balance right away but I think once the move starts happening once we
get back into 2018 the beginning of the year once people really start buying
again we’re gonna have no problem skyrocketing but right now we’re just
Consulting lower it’s a great time to buy that’s the one thing a lot of people
don’t understand is if you’re gonna be buying this stuff you’re gonna be buying
cryptocurrencies it’s a good time to be buying when it’s read don’t be buying
when it’s up 100 percent you want to be buying on these kind of setups when it’s
selling off when it’s bouncing lower good time to be buying this
consolidating area we had that previous support there the 250 area but you’re
holding now we were looking good 250 we broke below 250 today we’re down there I
think low today is at the 220 area so I’m kind of watching right now we’ll see
like I said if we can dip down a 200 area I’ll definitely be buying a lot
more there at the $200 and then anything below tomorrow as well so that’s my game
plan that’s my goal the one issue we have right now is Bitcoin so Bitcoin
kind of the same exact chart or having issues because light coins come just
really following Bitcoin and we’re not really getting the upside we’re not
getting the pop higher we’re just going down with Bitcoin so Bitcoin kind of
pops up and then litecoin just doesn’t really go anywhere and then all of a
sudden Bitcoin starts going back down and we started trading down with it so
we’ve got to get that correlation wiped away we got to get some news here gonna
get some good news you got the Lightning Network coming you got atomic swaps
coming we got new payment processors you got new news coming new websites that
are we adding Bitcoin litecoin to their payment processing system in the future
so 2018 I think overall 2018 I’m really bullish here on like going like I said
before I’ll say it again I think litecoin can easily be over a thousand
dollars here in the next year or so but that does not mean that we won’t have
some dips along the way this thing could easily crash back down there to the dot
150 area which if it does I’ll be loading the truck at that point but I
think right now this 200 our area is a good time to be buying obviously don’t
overextend yourself to the point that you can’t pay your mortgage or pay your
bills because you bought nothing but litecoin here but I think it is a good
safe time to invest a little bit if you’re going to look to invest
cryptocurrencies time to be buying right now after we’ve
sold off from these highs that $400 high that we recently had is a beautiful
upside from here you know bouncing off his torn dollar you getting a 200 or
move back up there to the foreign our area can’t be that kind of return there
so really if you’re looking to buy it’s a good time to buy and that’s what I’m
be doing right here Washington’s 200 our area watching this overall trend if we
can breakout above this 250 area I think we’ll start moving up higher and then
again from there we’re watching that 280 area and then that 320 area kind of key
areas to watch though to 8320 resistance we got to get above this 250 area to get
moving up and get back on the train here to new highs