Good Sunday everyone! Hello and welcome to another write up on one of our favorite coins, Litecoin. Take note, this is not a Large-Cap move...yet. Take note of the sell target for those following the Large-Cap Portfolio progress. Also, this target sell will be used for our 50 trades to a million in our ltc/btc trade challenge.
Getting started, we used fractals for this write up. The fractals look over accumulation periods that range 30-40 days. In each example an ATH (all time high) was met just before. Some may see this and think descending wedge, which I would not necessarily argue. The only reason I'm talking about these fractals is due to the accumulation period. LTC was trading in a fairly predictable range and that is where we are at now. Each accumulation period had a quick low followed by a fast price increase. We do not want to miss this potential gain.
In the short-term we can expect a quick drop in price. The fact BTC might take a stab at $10k in the next week will likely result in the market preferring to be in BTC (not in LTC). This is what we believe will cause the dip (Take note: we are bullish on LTC due to its futures potential and the foundation's work.). Once BTC skins the bear (Breaking and sustaining a $10k price will be our signal), LTC will make its move. Not everyone is a day trader, thus moving from BTC to LTC in order to time this just right is not in the cards for many. So play this to your strategy.
Aggressive traders can play the 0.0148 fib level and if the price is bottoms out just short, they can catch the uptrend. Conservative traders can buy here. Moderate traders can have their eyes set on 0.0155-0.0159 levels. Our RSI indicator drops into the oversold territory each time, so watch for that as well. Good sells into BTC can be had between 0.0225 and 0.028 (but we will update if and when this happens).
Thank you everyone to stopping by. Enjoy your Sunday.
DA BULL
Getting started, we used fractals for this write up. The fractals look over accumulation periods that range 30-40 days. In each example an ATH (all time high) was met just before. Some may see this and think descending wedge, which I would not necessarily argue. The only reason I'm talking about these fractals is due to the accumulation period. LTC was trading in a fairly predictable range and that is where we are at now. Each accumulation period had a quick low followed by a fast price increase. We do not want to miss this potential gain.
In the short-term we can expect a quick drop in price. The fact BTC might take a stab at $10k in the next week will likely result in the market preferring to be in BTC (not in LTC). This is what we believe will cause the dip (Take note: we are bullish on LTC due to its futures potential and the foundation's work.). Once BTC skins the bear (Breaking and sustaining a $10k price will be our signal), LTC will make its move. Not everyone is a day trader, thus moving from BTC to LTC in order to time this just right is not in the cards for many. So play this to your strategy.
Aggressive traders can play the 0.0148 fib level and if the price is bottoms out just short, they can catch the uptrend. Conservative traders can buy here. Moderate traders can have their eyes set on 0.0155-0.0159 levels. Our RSI indicator drops into the oversold territory each time, so watch for that as well. Good sells into BTC can be had between 0.0225 and 0.028 (but we will update if and when this happens).
Thank you everyone to stopping by. Enjoy your Sunday.
DA BULL
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.