Crypto is on FIRE! Money is getting throwed into cryptoland at record speeds. Primary with Coinbase, which is very evident today by the looks of Litecoin.
Fundamental
So first let me start of with a quote from my (73%+) "ALSO! Remember that Litecoin is on Coinbase. You know, that exchange that keeps getting massive amount of new signups and a huge percentage of the new stupid money that enters the space." That's whats happening today :)
I also had a sick prediction a year ago on LTC: (870%+) I am telling you about my past predictions because I am now turning from bullish on Litecoin to neutrual. And maybe to brag a little, lol ;P
Anyways, the reason for me turning on Litecoin today is simple, large percentage gains. Litecoin has gone up massively. From 4 bucks to trading in the 300 range today. I think there might be room for a run up to 400 range in the short term, but I don't like the risk/reward on it. Longer term however we might see more gains, perhaps 900 range. So I will be looking to take a position again on Litecoin, but not today. I wrote a good amount on Litecoin fundamentals on last trade idea, so if that's of interest, that's the place to look.
Technical
You can see we have broken out of both the channel and my pitchfork. Currenty we are testing the 3.618 from last run (4to94USD) and 4.618 from the September correction. This is where I sold my Litecoin as I think it's a nice place to take my profits :) (319 USD)
Above these fibs I am looking at the 4.618 from last run. If it goes up there in the short term I may be looking to take a short trade. I will post about it in this trade idea if I do. So when is the time to buy? If it goes down to test the channel and my pitchfork I believe it will be a good time to buy again. 195 USD is number that looks very attractive to me today.
If you are interested in my crypto activity, I am currently working on a portfolio page in my website. kryptokelly.com/portfolio :) Not totally finished, but it's getting there!
Thanks Kelly. Do you have any long-term outlook on Litecoin? I have a friend who heavily invested in LTC at peak and is very nervous.
Merry Xmas!!
Cryptotrader37
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im new to cryptos.doing my best to follow charts and analysis. bought a big position in LTC starting at 52USD and sold at 360USD. i appreciate the chat rooms and will continue to follow your posts.