pumapunko
Long

Possibly the least risky & most profitable trade of the year

BTCE:LTCBTC   Litecoin / Bitcoin
LTC is currently heavily oversold. It is at the bottom of the multi year linear trendline at the moment and history has shown that it moves in concert with BTC             when it pumps.

Buying at this level and setting stops below the linear trendline makes alot of sense, Conservative buyers should wait for price to rise above 0.009 which was previously support from november to december 2015 and may prove to be resistance in future.

The bottom of this trendline is a tried and tested buy area. Whilst there are some new coins on the block which promise far better features than LTC (ahem Ethereum             ) Litecoin is still massively popular in China as a purely speculative asset. Whilst its unlikely to surpass all time highs due to other coins eating into its market cap it is highly likely to move up in relation to BTC             during a big Bitcoin             pump.
Great chart....I feel the same way, and picked up some LTC in the low $3s. I think LTC will become a goldmine soon.
+1 Reply
Thanks for your feedback :-) Glad to hear you stocked up at bargain prices! Its looking good right now, If this BTC bull run keeps up we'll be seeing some massive green candles in a few weeks!
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Litecoin has never gone up so gradually. If LTC starts going up, It will peak within 1-2 months, IMO. Doubtful that we'll see higher highs until October.
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I agree, I drew the long gradual slope as i think itll hapen sometime within that timeframe. Most likely around june/july when the Bitcoin halving happens
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AriPole pumapunko
Three months later, this chart is looking better and better. I'm going to keep an eye on this.
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thanks a ton for this chart. i'm waiting patiently to see if LTC can rise up once again. :-)
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pumapunko PRO coinwatcher
Im glad its been helpful. Looks like we wont have to wait too much longer, rose 7% yesterday alone. Im thinking that we'll see some big green weekly candles in the next few weeks as Bitcoin has started pumping
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