Finally started swapping most of my charts to BTC pairings. Totally makes me rethink my future positions.
Feeling way less inclined to take profits off LTC, for instance. Doesn't look like it's flirted with the 0.02 resistance yet (for what that's worth). Riding the upper BBand (1D) but doesn't really freak me out. It's way up in USD, but it's only (only?? the greed) up 80% from its August low in BTC terms. USD tells me sell, BTC says let it ride. Don't screw with a good thing.
I could also rebalance a small amount, but it feels backwards putting higher-grade assets into spec assets at this point (most of my spec-class is meh right now--all the "good" coins in my portfolio are what's running hot). Shouldn't balancing ideally be the other way around? I'd prefer to use new fiat or maybe skim off a small BTC position to feed little 1-2% spec stuff. At the same time, I can't force the markets to match my price opinions.
More importantly though, does all of the above seem like sound reasoning in the general, TA sense (i.e. ignore the hodl/bank LTC angle)?
Also interesting that the latest LTC 0.02 (almost ATH) point was when BTC was tanking in July. Interesting hedge.
As always, tremendously appreciate all of your work keeping up with this thread.
Feeling way less inclined to take profits off LTC, for instance. Doesn't look like it's flirted with the 0.02 resistance yet (for what that's worth). Riding the upper BBand (1D) but doesn't really freak me out. It's way up in USD, but it's only (only?? the greed) up 80% from its August low in BTC terms. USD tells me sell, BTC says let it ride. Don't screw with a good thing.
I could also rebalance a small amount, but it feels backwards putting higher-grade assets into spec assets at this point (most of my spec-class is meh right now--all the "good" coins in my portfolio are what's running hot). Shouldn't balancing ideally be the other way around? I'd prefer to use new fiat or maybe skim off a small BTC position to feed little 1-2% spec stuff. At the same time, I can't force the markets to match my price opinions.
More importantly though, does all of the above seem like sound reasoning in the general, TA sense (i.e. ignore the hodl/bank LTC angle)?
Also interesting that the latest LTC 0.02 (almost ATH) point was when BTC was tanking in July. Interesting hedge.
As always, tremendously appreciate all of your work keeping up with this thread.