Litecoin Is Leading This Wave, Correct?

15 Feb 2019

We've seen several times that Litecoin (LTCBTC / LTCH19) has been leading this latest cryptocurrency wave. If that is the case, then we can expect a small breakout on the major altcoins to the upside, including the King Bitcoin.

Let's take a look at why is that:

• Litecoin's price bounced after hitting EMA50. It didn't hover around this price it simply bounced and followed up to break a fib resistance and EMA10.
  
  
• We are looking at the 4H time frame and a volume breakout can be seen on BitMEX (left chart). Now, this candle just opened, so there is plenty of room left for volume to keep growing, just as it can move down.
  
  
• The RSI is looking pretty good and the MACD is starting to form a strong curve.
  
  
• So Litecoin (LTCBTC) broke up first. If past action is any indication of future action, then we can expect BTCUSD / XBT, ETHUSD, ADABTC / ADAH19 and BCHABCBTC / BCHH19 to break up as well pretty soon.
  
  
• If Litecoin (LTCBTC / LTCH19) moves down and closes below EMA10 on this same 4H candlestick, then this analysis is completed invalidated.
  
  
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Many people have noticed Litecoin moving first. This happens often when one of the major alts take the lead, I was seeing this same thing happen a few months back with ETHUSD.

So based on this little piece of information, there is a good chance that the other altcoins will break up as well.

In fact, I have several open trades for these with different signals that are pointing to the same. In case anything goes wrong, we activate our stop loss.

Here are the trades (Enjoy it):

XRPH19:

BCHH19:

XBT:

ADABTC:

Thanks a lot for reading.

Namaste.