Do you guys remember D4rkEnergYs last LTCUSD Chart, where he told you about how he had spotted certain patterns and fractals there seems to be repeating it self again and again?
It's really easy to recognize on the LTCBTC chart. Let me explain it one more time, since you will be able to make money on these trades in the future:
First of all: Litecoin is not any different than the other altcoins in the sense that it in general follows Bitcoin . But please pay attention to those crazy spikes LTC has from time to time.
D4 will clarify the lesson for you: Usually when BTC goes down, LTC goes down even more. After some time with less , and BTC goes up Litecoin shoots up. After that LTC will again fare worse than Bitcoin for some time. AND then again A SPIKE! You can see how the story repeats it self.
D4s advice for you guys is to watch after these spikes. But remember we are in a period of uncertainty, so at the moment we only want to trade LTC when BTC also goes up! BTC's doesn't have to go much up - just up
Let's get back to the 4H LTCUSD Chart! As you can see, D4 gave you the signal 2 days ago, that you soon might enter a trade. Litecoin was about to make a spike, and also did it.
I also predicted an upcoming inverse , which you will see in my earlier chart, and that's exactly what we have now. At this very moment we are fighting with the EMA20 and 50 % retrace, but we will win if BTC helps up further up.
After that we will get help from the inverse to go up even more - BUT it will be a struggle due to the the downtrend resistance line right above our head AND the EMA50. We need help from BTC before we will succeed.
I also want you to take notice of how the bulls rejected a MACD-Cross.
My advice to you guys is to buy LTC with your Fiat or with your BTC IF Bitcoin will continue to go up. But you have to be ready to sell again, when BTC falls!
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But as we know. Everything depends on how BTC will fare.
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So went down again. But we are at this very moment in a descending wedge, and are trying to break out. D4 thinks we will succeed, but once again we will face the resistance line AGAIN.
We will ONLY win this battle IF Bitcoin will help us further up. It will be exciting to follow!
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