The Game of LiteCoin and How to Play it
Telah dikemas kini
Litecoin... At one point it was considered part of the "Big Three (BTC, ETH and LTC)
It attracted lots of attention as it was one of the most "Reasonably" priced coin compared to both BTC and LTC.
But it never made new highs from the Late 2017 Bull run. All others are 10x+
It's a sleeping giant. Has lots of Scrypt miners to back up it's network. It's LTC/BTC dominance just keeps making more and more bullish divergences.
Litecoin has always been volatile after any sort of pump, usually one of the strongest to retrace.
If it trades above $142 (OR .003 LTC/BTC) this analysis is invalidated.
I see a final pull down to $84, could with very possible flash wicks to liquidate all over leveraged positions to $72.
Not financial advice but if you aquire between those two prices... You will have a nice retirement fund within a few months.
Overall I see LTC reaching new highs, even if it's from here. Long term $880-1,000 when it's BTC dominance is flirting with major resistance at .0045
A breakout of .0045 will send it to .0077-.0080 making new highs of ~$1500.
A breakout above .008 BTC will send it to no mans land.
Overall good long term hold whenever it is time for it to make new highs. Keep in mind, historically LTC is one of the last Alt coins to push new highs when we are in a bull run.
It attracted lots of attention as it was one of the most "Reasonably" priced coin compared to both BTC and LTC.
But it never made new highs from the Late 2017 Bull run. All others are 10x+
It's a sleeping giant. Has lots of Scrypt miners to back up it's network. It's LTC/BTC dominance just keeps making more and more bullish divergences.
Litecoin has always been volatile after any sort of pump, usually one of the strongest to retrace.
If it trades above $142 (OR .003 LTC/BTC) this analysis is invalidated.
I see a final pull down to $84, could with very possible flash wicks to liquidate all over leveraged positions to $72.
Not financial advice but if you aquire between those two prices... You will have a nice retirement fund within a few months.
Overall I see LTC reaching new highs, even if it's from here. Long term $880-1,000 when it's BTC dominance is flirting with major resistance at .0045
A breakout of .0045 will send it to .0077-.0080 making new highs of ~$1500.
A breakout above .008 BTC will send it to no mans land.
Overall good long term hold whenever it is time for it to make new highs. Keep in mind, historically LTC is one of the last Alt coins to push new highs when we are in a bull run.
Nota
April 15: Current Price $111.054HR Time Frame
Watch for a fake break out of the bear flag formation - Can send us to $117-118.50
We can look for short opportunities there with TP Areas of $94, $84 and $72
The possibility of a $118.5 break out will always exist, the LTC / BTC chart looks semi-bullish... But following it closely.
Nota
March 1, midnight. First Short target $94 hit.
Long'd $96, with a close with another short opportunity in the $112 range. See monthly 4 hour projection. Do with this as you please :)
Nota
May. 2 past midnight. (date typo on idea bove)Math tells me that there is a big chance to see $121-24 area.
We can expect some sort of world wide "news" that will decide the direction of the market from there.
Projected BTC Target of 39.5k Breakout is $46,400.
$46,400 * current LTC price of .002588 puts it at $120.83, anticipating a BTC/LTC break to .00272 * ~$45500 as Dominance flows into alts will put LTC ~$123.77
Nota
On the other hand we can semi predict the outcome for the last wave down. Fertilizer stocks are pumping, investing agencies moving money into cattle for new investors, the rise in fuel prices hurting farmers income / ability to cultivate, Ukraine although I don't think it plays much in our imports / exports of wheat and corn. We've been slowly preparing for it, just waiting for it to take action. There is a reason why the EPA and everyone is now heavily involving the topic of "Going Green" - this will effect our environment for cultivation. It all adds to the picture.
Nota
Bottom is in, at least for the meantime. Holding at $74 support line. We will probably see some upside to $84-96, following by another retest to maybe the $68-72 area. It's invalidated if we trade above $106 and hold.
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